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

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

Which of the following is NOT a component of a typical mortgage payment?

Property Taxes

Interest

Principal

Dividends

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Verified step by step guidance

Understand the components of a typical mortgage payment. A mortgage payment generally consists of four main parts: Principal, Interest, Property Taxes, and sometimes Insurance (commonly referred to as PITI).

Principal refers to the portion of the payment that goes toward reducing the original loan amount borrowed.

Interest is the cost of borrowing money, calculated as a percentage of the outstanding principal balance.

Property Taxes are payments made to local governments based on the assessed value of the property, often included in the monthly mortgage payment.

Dividends, on the other hand, are payments made to shareholders from a company's profits and are not related to mortgage payments. Therefore, dividends are NOT a component of a typical mortgage payment.