Dell, Inc, Sells Surplus, Refurbished, or Closeout Computer Merchandise at Its

question 55

Multiple Choice

Dell, Inc., sells surplus, refurbished, or closeout computer merchandise at its dellauction.com website to many buyers who bid competitively against one another. This is an example of a(n)

• A) traditional auction.
• B) reverse auction.
• C) bidder's war.
• D) I-auction.
• E) Webfront auction.

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Definitions:

Cash Amount

The total value of cash on hand or in bank accounts, easily accessible for immediate use by the business.

Cost of Merchandise Sold

The direct costs attributable to the goods sold by a company, including purchase price, freight, storage, and packaging.

Inventories

Assets held for sale in the ordinary course of business, or in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process.

Cash Payment

Money that is paid out by a business, often documented by a cash disbursement journal.