Which of the Following Statements Is True of Auctions

question 30

Multiple Choice

Which of the following statements is true of auctions?

• A) The organization hosting an auction collects transaction fees for the service.
• B) The number of goods sold via traditional auctions is higher than that sold via online auctions.
• C) Goods already having a set price in the marketplace are usually auctioned.
• D) Online auctions are based on the barter business model.

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Definitions:

Form Of Phrase

The particular way in which a phrase is constructed or expressed.

Pay To The Order Of

A phrase written on checks to designate who has the authority to receive the amount specified on the check.

Use Of Checks

The practice of using checks as a method of payment; involves writing, issuing, or receiving checks as a way to transfer money.

14th Century

The period extending from the year 1301 to 1400 in the Gregorian calendar, marked by significant historical events globally.