The Key Functions of a Basic Electronic Commerce Web Site

question 65

True/False

The key functions of a basic electronic commerce Web site are catalog display, shopping cart capabilities, and transaction processing.

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Definitions:

January 1 Retained Earnings

The amount of earnings retained in a company as of the beginning of the fiscal year, not distributed to shareholders in the form of dividends.

Equity Method

An accounting technique used by firms to assess the profits earned by their investments in other companies by reporting these profits as income.

Intra-entity Gross Profit

The profit recognized on transactions carried out between divisions or departments within the same company.

January 1 Retained Earnings

The amount of net income left over for a business at the start of a new calendar year after all dividends have been paid out to shareholders.