Value Added Networks or VANs, Features All of the Following

question 52

Multiple Choice

Value added networks or VANs, features all of the following EXCEPT:

• A)Transaction fees
• B)Complicated
• C)Industry standard
• D)Limited access

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Definitions:

General Journal Entry

A general journal entry is a record in the general journal that is used to document business transactions according to the double-entry bookkeeping system.

Perpetual Inventory Method

The perpetual inventory method continuously updates inventory records and cost of goods sold every time a transaction occurs.

General Journal Entry

The initial recording of financial transactions in the general journal, indicating the accounts and amounts to be debited and credited.

Social Significance

The importance or meaning of something within society or a specific community, influencing norms, behaviors, and values.