Which of the Following Occurs When One Consumer Sells Directly

question 15

Multiple Choice

Which of the following occurs when one consumer sells directly to another consumer, such as in an online auction?

• A) consumer-to-business (C2B) e-commerce
• B) business-to-consumer (B2C) e-commerce
• C) consumer-to-consumer (C2C) e-commerce
• D) business-to-business (B2B) e-commerce

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Definitions:

IFRS

A global set of accounting guidelines created by the International Accounting Standards Board (IASB), known as the International Financial Reporting Standards.

GAAP

Generally Accepted Accounting Principles, which are a set of rules and standards for financial reporting followed by companies in the United States.

Principles-Based

An approach to accounting and regulation that emphasizes general guidelines and values to govern behavior rather than precise rules.

Internal Control Standards

The policies and procedures implemented by a company to ensure the integrity of financial and operational information, promote accountability, and prevent fraud.