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 good strategy to improve your credit score, according to EverFi?

Only make the minimum payment on your debts.

Max out your credit cards regularly.

Open several new credit accounts at once.

Pay your bills on time each month.

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Verified step by step guidance

Understand the concept of a credit score: A credit score is a numerical representation of your creditworthiness, which lenders use to assess the risk of lending to you. It is influenced by factors such as payment history, credit utilization, length of credit history, types of credit, and new credit inquiries.

Recognize the importance of payment history: Payment history is one of the most significant factors affecting your credit score. Paying your bills on time each month demonstrates reliability and positively impacts your credit score.

Avoid behaviors that harm your credit score: Regularly maxing out your credit cards increases your credit utilization ratio, which can negatively affect your score. Similarly, opening several new credit accounts at once can lead to multiple hard inquiries, which may lower your score temporarily.

Focus on responsible credit management: Paying more than the minimum payment on your debts can help reduce your overall debt faster and improve your credit utilization ratio, which is another key factor in your credit score.

Adopt good financial habits: To improve your credit score, consistently pay your bills on time, keep your credit utilization low (ideally below 30%), and avoid unnecessary credit inquiries or opening multiple accounts in a short period.