Which of the Following Is True

question 39

Multiple Choice

Which of the following is true?

• A) Collaboration can only occur internally.
• B) A wooki is a web page that can be viewed and modified by anybody with a web browser and access to the Internet unless it is password protected.
• C) B2C is the earliest form of e-commerce.
• D) Craigslist is an extremely popular form of peer-to-peer e-commerce.
• E) The brokerage business model applies only to financial transactions.

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Definitions:

Finished Goods Inventory

The stock of completed products not yet sold, valued at either the cost of production or the market price, and recorded as an asset on the balance sheet.

Selling Expenses

Costs incurred directly from the sale of a product or service, not including the cost of goods sold but may include advertising, sales commissions, and store supplies.

Absorption Costing

A pricing approach that encompasses all production expenses, such as direct materials, direct labor, along with both variable and fixed overhead, in a product's cost.

Variable Costing

An accounting method that only allocates variable costs to inventory, treating fixed costs as period costs that are expensed in the period they are incurred.