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

Types of Accounting

Financial Accounting

1. Introduction to Accounting

Types of Accounting

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Multiple Choice

Which of the following is NOT a type of accounting?

Financial accounting

Tax accounting

Biological accounting

Managerial accounting

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Verified step by step guidance

Understand the types of accounting listed in the problem: Financial accounting, Tax accounting, Managerial accounting, and Biological accounting.

Recall the definitions of each type of accounting: Financial accounting involves preparing financial statements for external users, Tax accounting focuses on compliance with tax laws, and Managerial accounting provides information for internal decision-making.

Recognize that Biological accounting is not a recognized field within the discipline of accounting. It does not pertain to the systematic recording, reporting, or analysis of financial transactions.

Compare Biological accounting to the other types listed, noting that it does not align with the established categories of accounting practices.

Conclude that Biological accounting is the correct answer as it is not a type of accounting.