Describe Three Challenges That Have Been Created or Made More

question 9

Essay

Describe three challenges that have been created or made more serious due to the development of Internet-based technologies.

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Definitions:

Normal Balance

A reiteration with different wording: The typical side (debit or credit) an account is expected to have, based on standard accounting rules.

Account Category

A classification used in accounting to organize financial transactions, such as assets, liabilities, equity, revenue, and expenses.

Net Sales

The total revenue from sales transactions after deducting returns, allowances, and discounts.

Discount Period

A specified period within which a buyer can pay less than the full amount due by taking advantage of a discount offered by the seller.