Which of the Following Statements Regarding Amazon

question 150

Multiple Choice

Which of the following statements regarding Amazon.com is False?

• A) The company was opened by Jeff Bezos in 1995.
• B) The company was founded as, and still is, a "virtual retailer" with no inventory.
• C) The company is now a world-class leader in warehouse management and automation.
• D) The company uses both United Parcel Service and the U.S. Postal Service as shippers.
• E) Amazon obtains its competitive advantage through inventory management.

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Definitions:

Revenues

Revenues refer to the total amount of money earned by a company from its business activities, such as the sale of goods or services, before any expenses are subtracted.

Expenses

Outflows or other using up of assets or incurring of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major operations.

Accrual Adjusting Entry

An accounting entry made to record revenues earned or expenses incurred that have not yet been recorded through regular transactions.

Insurance Expense

Costs incurred by a business for insurance coverage, considered an operating expense.