A _____ Is Initiated by a Group of Consumers and Enables

question 87

Multiple Choice

A _____ is initiated by a group of consumers and enables a customer to bid on specific products or make a request for quotation (RFQ) at a common place for selling products.

• A)seller-side marketplace
• B)buyer-side marketplace
• C)third-party exchange marketplace
• D)business communication marketplace

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Definitions:

Double-Entry Bookkeeping System

An accounting method that records each transaction as both a debit and a credit in different accounts, ensuring the accounting equation stays balanced.

Single-Entry System

A rudimentary accounting method where entries are made in a single record, typically focusing only on cash flow and personal accounts.

Computerized Ledger System

A digital system for recording the financial transactions of a business or organization, providing an organized way to store, manage, and report financial data.

Business Transaction

An economic event or condition that changes an entity's financial statements, involving the exchange of goods, services, or funds.