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

CRM systems help businesses achieve which of the following business objectives?

Improving customer relationships and retention

Auditing internal controls over financial reporting

Calculating depreciation expense for fixed assets

Preparing financial statements for external reporting

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Verified step by step guidance

Understand the purpose of CRM (Customer Relationship Management) systems. CRM systems are designed to manage a company's interactions with current and potential customers, focusing on improving customer relationships and retention.

Analyze the options provided in the question. The first option, 'Improving customer relationships and retention,' aligns directly with the purpose of CRM systems.

Evaluate the other options: 'Auditing internal controls over financial reporting,' 'Calculating depreciation expense for fixed assets,' and 'Preparing financial statements for external reporting.' These are tasks typically associated with financial accounting systems, not CRM systems.

Recognize that CRM systems are not designed for financial reporting, auditing, or depreciation calculations. Their primary objective is to enhance customer satisfaction and loyalty.

Conclude that the correct answer is 'Improving customer relationships and retention,' as it directly reflects the core function of CRM systems.