Rick Forms Study Groups Inc

question 10

Multiple Choice

Rick forms Study Groups Inc. to start a social media site online. He selects Takeaway as the domain name. Responsible for coordinating databases related to namespaces online

• A)are the website hosts of online businesses.
• B)is the U.S. Copyright Office.
• C)is the U.S. Patent and Trademark Office.
• D)is the Internet Corporation for Assigned Names and Numbers.

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Definitions:

Accounting Equation

The fundamental equation that represents the relationship between an entity's assets, liabilities, and owner's equity; Assets = Liabilities + Owner's Equity.

Revenue Recognition Principle

An accounting principle that stipulates revenue should be recognized and recorded when it is earned, regardless of when the cash is received.

Business Entity Principle

An accounting concept that treats a business as separate and distinct from its owners for purposes of recording financial transactions.

Monetary Unit Principle

An accounting principle that assumes business transactions or events can be measured and expressed in monetary units.