What Is a Digital Wallet

question 36

Multiple Choice

What is a digital wallet?

• A) An Internet-based company that facilitates payments over the Internet
• B) A mechanism for sending a payment from a checking or savings account
• C) A system that sends bills over the Internet and provides an easy-to-use mechanism to pay the bill
• D) Both software and information-the software provides security for the transaction and the information includes payment and delivery information

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Definitions:

Gross Margin

The difference between revenue and cost of goods sold, divided by revenue, expressed as a percentage. It represents the percentage of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold.

Variable Selling Expense

Costs that vary directly with the volume of sales, such as commissions, shipping charges, and promotional expenses.

Cost of Goods Sold

The financial outlays directly associated with the production of a company's sold merchandise.

Variable Administrative Expense

Expenses that vary in direct proportion to changes in an organization's activity level, such as sales commissions.