With the Creation and Growth of the Internet, Vacationers Can

question 105

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

Understand the concept and importance of cash discounts in financial management.

Describe the 5 Cs of credit and their significance in credit assessment.

Define collection policy and its role in credit management.

Explain the purpose and use of an aging schedule in managing receivables.

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Definitions:

Long-Arm Statutes

Laws that allow a court to exercise personal jurisdiction over an out-of-state defendant on the basis of certain activities conducted within the state.

International Shoe

A landmark United States Supreme Court case that established the standard for personal jurisdiction over non-resident defendants in civil cases.

Intrastate Business Qualification

The required authorization for a company to conduct business within a particular state’s borders, distinct from its state of incorporation.

Independent Contractors

Individuals who are in business for themselves, providing goods or services under a contract or agreement, without being employees of the hiring company.