Table of contents

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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

A person who wants to buy a new house is most likely to apply for which type of loan?

Mortgage loan

Personal line of credit

Student loan

Auto loan

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Understand the context of the problem: A person wants to buy a new house, which typically requires a significant amount of money that is not readily available.

Identify the purpose of the loan: Buying a house is a long-term investment and requires a specific type of loan designed for real estate purchases.

Review the options provided: Mortgage loan, Personal line of credit, Student loan, Auto loan. Consider which loan type is specifically tailored for purchasing a house.

Explain the concept of a mortgage loan: A mortgage loan is a type of loan specifically designed for purchasing real estate, where the property itself serves as collateral for the loan.

Conclude that the most appropriate loan for buying a house is a mortgage loan, as it aligns with the purpose and requirements of the transaction.