Internet Companies That Simply Act as Agent or Broker in a Transaction

question 40

Multiple Choice

Internet companies that simply act as agent or broker in a transaction must record sales based on

• A)"gross" basis.
• B)"net" basis.
• C)"installment" basis.
• D)"discount" basis.

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Definitions:

DVDs

Digital Versatile Discs, storage media used for movies, data, and software.

Tolerance for Ambiguity

The degree to which an individual is comfortable with uncertainty, complexity, and situations where clear information or definitive outcomes are not available.

Internal Locus

The psychological concept referring to individuals who believe they have control over the outcomes of their actions and events in their lives.

Guarantee Financial

A commitment by one party to assume responsibility for fulfilling a financial obligation or repaying a debt in the event of default by the primary debtor.