Justin Has Always Had an Intense Interest in Steam Engines

question 81

Multiple Choice

Justin has always had an intense interest in steam engines. He has one of the largest collections of pictures and facts about the engines in the United States. He decides to share his interest with others by being a cybermediary. Of the following, which is the best description of what Justin will do as a cybermediary?

• A) Justin will provide his services to help others organize their own computer programs related to steam engines.
• B) Justin will market software featuring steam engines.
• C) Justin will organize a user group online for steam engine enthusiasts.
• D) Justin will join a user group created by others to get more information about steam engines.

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Definitions:

Income Statement Approach

A method for determining certain balances that should appear on the income statement by considering revenues and expenses, rather than focusing directly on cash flow.

Uncollectible Accounts

Accounts receivable that a business cannot collect, often recognized as an expense as bad debt or written off.

Aging

A method used in accounting to categorize accounts receivable based on the length of time an invoice has been outstanding.

Accounts Receivable

Accounts receivable refer to the money owed to a company by its customers for goods or services already delivered but not yet paid for.