With Regard to Online Contracts, Which of the Following Statements

question 87

Multiple Choice

With regard to online contracts, which of the following statements is most accurate?

• A) Electronic documents are effective when the consumer receives a copy
• B) Electronic documents are unenforceable unless in writing
• C) Consumers will not be held liable for terms that they did not actually read
• D) Consumers may have to resolve their disputes in a foreign jurisdiction

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Definitions:

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company’s balance sheet.

Journalizing

The process of recording business transactions in the accounting journals as part of the bookkeeping process.

Transaction

An agreement or exchange between two parties that is recorded and has an economic impact on the finances of a business.

Journal

A detailed record where all financial transactions of a business are initially recorded, before being transferred to the general ledger.