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

Which of the following is a common way to deposit money into your checking account?

Writing a check to someone else

Paying a utility bill online

Direct deposit from your employer

Withdrawing cash from an ATM

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Verified step by step guidance

Understand the concept of a checking account: A checking account is a type of bank account that allows easy access to funds for daily transactions, such as deposits, withdrawals, and payments.

Identify the purpose of depositing money into a checking account: Depositing money increases the balance in your account, making funds available for future transactions.

Review the options provided in the problem: Writing a check to someone else, paying a utility bill online, direct deposit from your employer, and withdrawing cash from an ATM.

Analyze each option: Writing a check to someone else and paying a utility bill online are ways to spend money, not deposit it. Withdrawing cash from an ATM reduces your account balance. Direct deposit from your employer is a common method to deposit money into your checking account.

Conclude that direct deposit from your employer is the correct answer because it is a standard and efficient way to deposit funds directly into your checking account without manual intervention.