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 a collection of individual accounting programs sold as a unit?

Accounting software suite

Trial balance

Single-entry system

General ledger

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Verified step by step guidance

Understand the question: It is asking for a term that represents a collection of individual accounting programs sold as a unit.

Review the options provided: 'Accounting software suite,' 'Trial balance,' 'Single-entry system,' and 'General ledger.'

Define each term: 'Accounting software suite' refers to a package of accounting programs designed to work together. 'Trial balance' is a report listing all ledger accounts and their balances. 'Single-entry system' is a basic accounting method where each transaction is recorded once. 'General ledger' is a complete record of all financial transactions of a company.

Analyze the context: The question specifically mentions 'a collection of individual accounting programs sold as a unit,' which aligns with the definition of 'Accounting software suite.'

Conclude the reasoning: Based on the definitions and context, the correct answer is 'Accounting software suite,' as it matches the description provided in the question.