The Internet Has Changed the World. Web 1.0

question 104

Multiple Choice

The Internet has changed the world. Web 1.0:

• A) transformed traditional retailing by selling goods and services over the Internet
• B) offered consumers a way to communicate with each other through e-mail
• C) creates online communities that connect buyers and sellers in new ways
• D) provided businesses with an opportunity to save money

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Definitions:

Master Budget

A comprehensive financial planning document that includes all of the smaller, individual budgets within a company, projecting all of its activities over a fiscal year.

Sales Budget

A detailed estimate of the sales revenue a company expects to earn in a specific period, including both volume and price.

Merchandise Purchases

Transactions related to buying inventory for resale, typically in a retail or wholesale business setting.

Beginning Cash Balance

Beginning cash balance is the amount of cash available at the start of a financial period, carrying over as the ending balance from the previous period.