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 an ownership structure controlled by one or more stockholders?

Corporation

Limited liability company (LLC)

Sole proprietorship

Partnership

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Understand the ownership structures provided in the options: Corporation, Limited Liability Company (LLC), Sole Proprietorship, and Partnership.

Recall that a Corporation is a legal entity that is separate from its owners (stockholders) and is controlled by one or more stockholders who own shares of the company.

Compare this to the other options: A Sole Proprietorship is owned and controlled by one individual, a Partnership is owned and controlled by two or more individuals, and an LLC is a hybrid structure that combines elements of corporations and partnerships but is not necessarily controlled by stockholders.

Identify that the key characteristic of a Corporation is its ownership by stockholders, which distinguishes it from the other structures.

Conclude that the correct answer is 'Corporation' because it is the only structure explicitly controlled by one or more stockholders.