Skoot, an E-Commerce Startup Company, Recently Paid $300,000 to Widget

question 87

Multiple Choice

Skoot, an e-commerce startup company, recently paid $300,000 to Widget Corp., a company that provides Internet services and products including cloud computing and online searches, to gain access to the data regarding online product searches. In the context of the costs of useful information, it can be concluded that Skoot incurred _____.

• A) processing cost
• B) retrieval cost
• C) storage cost
• D) acquisition cost

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Definitions:

Presented

Shown, given, or made available for viewing or consideration.

Payment

The transfer of money or goods from one party to another as compensation for goods or services provided or as a fulfillment of a legal obligation.

Maker

In financial terms, it refers to the entity that creates or issues a promissory note or draft.

Drawee

The party in a financial transaction who is directed to pay a certain sum, typically the bank on which a check is drawn.