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

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Which of the following is the best example of a business strategy?

Purchasing office supplies for daily operations

Recording sales transactions in the accounting system

Hiring a new accountant to manage payroll

Expanding into international markets to increase market share

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Verified step by step guidance

Understand the concept of a business strategy: A business strategy is a long-term plan or approach that a company adopts to achieve specific goals, such as increasing market share, improving profitability, or gaining competitive advantage.

Analyze the options provided: Evaluate each option to determine whether it aligns with the definition of a business strategy. For example, purchasing office supplies, recording sales transactions, and hiring an accountant are operational tasks rather than strategic decisions.

Identify the strategic option: Expanding into international markets to increase market share is a strategic decision because it involves long-term planning, resource allocation, and a focus on achieving a significant business goal.

Differentiate between operational tasks and strategic decisions: Operational tasks are routine activities necessary for daily business operations, while strategic decisions involve broader goals and impact the company's direction.

Conclude that the correct answer is the option that reflects a long-term, goal-oriented plan: Expanding into international markets to increase market share is the best example of a business strategy.