Which Statement Below Is Inaccurate in Reference to Domain Names

question 6

Multiple Choice

Which statement below is inaccurate in reference to domain names?

• A)Domain names are rented
• B)Domain names are owned
• C)Domain names are renewable
• D)GoDaddy is a popular domain name registrar

---

Definitions:

No Gain

A financial situation where a transaction does not result in any profit to the party involved.

Revaluation Model

An accounting method that allows assets to be carried at a revalued amount, reflecting current values rather than historical cost, with adjustments made to the assets' carrying amount on the balance sheet.

Reversals of Revaluation

An accounting process that negates a previously recorded increase or decrease in the value of an asset to reflect its current market value.

Accumulated Depreciation

The total amount of depreciation expense recorded for an asset over its useful life, reducing its book value on the balance sheet.