1. Introduction to Accounting

Why is it important to understand whether you are more of a natural saver or a natural spender?

Accounting is distinct from finance because its main focus is on:

Which of the following is a type of accounting commonly used in organizations?

Which type of accounting is primarily concerned with protecting business assets against risks such as fire, theft, and other hazards?

Which of the following is NOT a type of accounting?

Pete wants a loan of \$1 to start a small business. Which type of accounting would be most relevant for preparing the financial statements required by the bank to assess his loan application?

Which of the following is a characteristic of a performance bonus?

Descriptive data about a customer in accounting typically includes categories such as:

Which of the following is a primary advantage of using old-fashioned paper filing for preparing your taxes?

When auditing an entity with a limited control environment, which type of accounting is most directly involved in evaluating the effectiveness of internal controls?

According to the Boston Consulting Group (BCG) matrix, a 'Star' organization is characterized by which combination of market share and market growth?

One result of taking a firm private is:

Which of the following would be considered a period cost for a textbook printing company?

Which of the following accounts are classified as shareholders' equity?

Which of the following should NOT be considered cash by an accountant?