What Is Crowdsourcing

question 55

Multiple Choice

What is crowdsourcing?

• A) Refers to the wisdom of the crowd.
• B) Sources capital for a project by raising many small amounts from a large number of individuals, typically via the Internet.
• C) Collaborates and taps into the core knowledge of all employees, partners, and customers.
• D) Involves capturing, classifying, evaluating, retrieving, and sharing information assets in a way that provides context for effective decisions and actions.

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Definitions:

General Ledger

A thorough collection of financial records that documents every financial transaction undertaken by a business.

Adjustments Credit Column

The part of a financial or accounting document where adjustments are made to credits, increasing the value of certain accounts.

Merchandise Inventory

The inventory of products that a retailer plans to sell to customers, accounting for a critical component of its current assets.

Income Summary Account

An account used during the closing process in accounting that summarizes the revenues and expenses of a period to calculate the net income or loss.