Critical Thinking Questions Case 2-1 You Are Taking an Economics

question 63

Multiple Choice

Critical Thinking Questions Case 2-1 You are taking an economics class, as part of which you are studying the various types of e-commerce. As part of your research, you have learned that vending machines in Japan allow shoppers to hold their cell phones in front of the machine in order to make a purchase using the smartphone. Which of the following types of commerce does this exemplify?

• A) C2C
• B) B2B
• C) m-commerce
• D) C2B

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Definitions:

Consolidation Entry TI

Consolidation Entry TI (Transaction Information) involves the adjustments and eliminations made during the consolidation process to accurately reflect the group's financial position as if the entities operated as a single entity.

Consolidation Entry G

A specific journal entry made to eliminate intercompany transactions and balances when preparing consolidated financial statements.

Intra-entity Transfer

Refers to the movement of goods, services, or funds within different parts of the same entity.

Depreciable Asset

An asset that loses value over time due to usage, wear and tear, or obsolescence, and is subject to depreciation accounting to allocate its cost over its useful life.