Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

If you have already accepted more student loan money than you need, who should you contact to return the excess funds?

The financial aid office at your college or university

Your academic advisor

The Department of Education's customer service

The Internal Revenue Service (IRS)

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Verified step by step guidance

Step 1: Understand the context of the problem. This question is about managing excess student loan funds, which is a financial decision related to personal finance and not directly tied to Financial Accounting principles.

Step 2: Identify the key stakeholders involved in student loans. These typically include the financial aid office at your college or university, your academic advisor, the Department of Education, and the IRS.

Step 3: Evaluate the role of each stakeholder. The financial aid office is responsible for managing student loans and disbursements, your academic advisor provides academic guidance, the Department of Education oversees federal student loans, and the IRS handles tax-related matters.

Step 4: Determine the most appropriate contact for returning excess funds. Since the financial aid office directly manages loan disbursements, they are the correct entity to contact for returning excess funds.

Step 5: Conclude that the financial aid office at your college or university is the correct choice for addressing this issue, as they handle loan adjustments and refunds.