Internet-Based Commerce Is Called _________________________ and Includes Two Main Sectors

question 56

Essay

Internet-based commerce is called _________________________ and includes two main sectors: B2C (business-to-consumer) and B2B (business-to-business).

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Definitions:

Taxes Payable

Liabilities owed to government entities, representing taxes due to be paid by individuals or organizations.

Property Plant and Equipment

Long-term tangible assets held for business use and not expected to be converted to cash in the upcoming year.

Total Assets

The sum of all resources owned by a company as reflected on the balance sheet, including both current and non-current assets.

Accumulated Depreciation

Accumulated depreciation represents the total depreciation expense assigned to a fixed asset over its useful life, reducing its book value.