Case 4-1 Michael, the Owner of a New Retail Store, Sets Up

question 61

Multiple Choice

Case 4-1
Michael, the owner of a new retail store, sets up a business network to communicate with fellow retailers and to attract customers.
Michael wants to install a network that allows his employees to exchange files and email, share printers and other hardware, and access the Internet within his organization. Identify the network that Michael should use.

• A)Personal area network (PAN)
• B)Wide area network (WAN)
• C)Metropolitan area network (MAN)
• D)Local area network (LAN)

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Definitions:

Accounts Payable

Liabilities representing amounts owed to suppliers or creditors for goods and services received that are not yet paid.

Paid to You

This term generally refers to any payment made directly to an individual, often in the context of salaries, dividends, or other forms of income.

Revenue Accounts

Accounts that track money earned from a company's operations and activities, usually from the sale of goods and services.

Credits

Accounting entries that increase liabilities or decrease assets, representing the opposite of debits.