With the Creation and Growth of the Internet, Vacationers Can

question 134

Multiple Choice

With the creation and growth of the Internet, vacationers can now book their own flights, hotels, rental cars, and other travel logistics online.If this capability resulted in creative destruction, which of the following industries would we have expected to decline the most as a result?

• A)airlines
• B)travel agencies
• C)tourist information
• D)hotels

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Definitions:

Bonds Payable

Long-term liabilities representing amounts owed by an entity to bondholders, to be repaid at specified maturity dates with interest.

Net Book Value

The net book value is the value at which an asset is carried on a balance sheet, calculated as the original cost minus accumulated depreciation and impairment losses.

Carrying Value

The net amount at which an asset or liability is reported in the financial statements, factoring in its original cost and any related depreciation, amortization, or impairment costs.

Useful Life

The estimated period over which an asset is expected to be functional and contribute to the operations of a business, beyond which it might be deemed obsolete.