One of the Most Recent Developments on the Social Media

question 66

Multiple Choice

One of the most recent developments on the social media scene is that:

• A) it will soon be possible to repost another user's message on Twitter
• B) organizations will be able to host virtual networking events and "meet and greets" in the virtual world
• C) searches on Bing will feature a Facebook module that shows you what your friends have liked as it relates to the search
• D) marketers will be able to send short,160-character text messages to your cell phone
• E) YouTube users will not only be able to watch videos,they will also be able to upload their own videos to the site

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Definitions:

Commercial Substance

An occurrence in a transaction that causes a significant change in cash flow, indicating that the transaction has economic consequences.

Net Income

The company's earnings post all deductions, including expenses and taxes, from its overall revenues.

Deferred Tax Liability

This is a tax obligation that a company owes but can pay at a future date due to timing differences between its financial accounting and tax filing.

Deferred Tax Asset

An accounting asset representing the amount of taxes payable in future periods due to deductible temporary differences and carryforwards.