Which of the Following Is NOT True About the Internet's

question 92

Multiple Choice

Which of the following is NOT true about the Internet's impact on the market for information?

• A) The Internet has reduced the time spent searching for the lowest price.
• B) The Internet has greatly expanded the number of searches that can be performed.
• C) It is easy to conduct repeated searches.
• D) The quality of information available online is uniformly good.
• E) The quantity of information available online is very large.

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Definitions:

Closing Process

The transfer process of converting temporary account balances to zero by transferring the revenue and expense account balances to the owner’s capital account, and transferring the owner’s drawing account balance to the owner’s capital account.

Drawing Account

An account used to track withdrawals made by the owner of a sole proprietorship from the business for personal use.

Temporary Account

An account in financial accounting that is used to collect revenues, expenses, and withdrawal information which is transferred to permanent accounts at the end of an accounting period.

Accumulated Depreciation

The total amount of a company's assets' depreciation since the assets were acquired, reflecting how much of the assets' value has been used up over time.