Sarah Uses an App on Her Phone to Find the Nearest

question 18

Multiple Choice

Sarah uses an app on her phone to find the nearest coffee shop and then, once she is there, sends her friend a link of precisely where she is so that the friend can meet her.Sarah is making use of

• A)fast-moving consumer goods
• B)location-based services
• C)market segmentation
• D)crowdsourcing

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Definitions:

Interest Payable

A liability account showing the amount of interest expense that has been incurred but not yet paid.

Fiscal Period

A specific time period used for accounting purposes and financial reporting, usually spanning a year, but can also be a quarter or month.

Adjusting Entry

Bookkeeping entries executed at the termination of an accounting cycle, intended to apportion income and outlays to their respective periods of occurrence.

Accrue Wages

The process of recognizing wages that have been earned by employees but have not yet been paid out by the company.