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 a component of an invoice?

Retained earnings

Statement of cash flows

Invoice number

Depreciation schedule

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Verified step by step guidance

Understand the purpose of an invoice: An invoice is a document issued by a seller to a buyer that outlines the details of a transaction, including goods or services provided, their quantities, prices, and payment terms.

Identify the components of an invoice: Common components include the invoice number, date, seller and buyer information, description of goods or services, quantities, unit prices, total amount, payment terms, and due date.

Analyze the options provided: Retained earnings, statement of cash flows, and depreciation schedule are financial accounting terms but are not components of an invoice. These are related to financial statements and accounting processes.

Recognize the correct answer: The invoice number is a unique identifier for the invoice and is a standard component of an invoice. It helps in tracking and referencing the transaction.

Conclude: The correct component of an invoice from the options provided is the invoice number, as it is essential for record-keeping and communication between the seller and buyer.