Intermediaries Occur When a Customer Sells Directly to Another Customer

question 72

True/False

Intermediaries occur when a customer sells directly to another customer online, cutting out the intermediary.

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Definitions:

Semiannually

Occurring twice a year; used to describe the frequency with which certain financial or operational events take place, such as interest payments on bonds.

Equity Method

An accounting technique used to record an investor's proportional share of the net income and losses of an investee company in which the investor has significant influence but not full control.

Year-End Adjustment

Journal entries made at the end of an accounting period to account for incomes and expenditures in the correct accounting period.

Lower Of Cost

Refers to the accounting principle of valuing and reporting assets at the lower of its historical cost or the market value.