Trade That Takes Place Between Companies Using IT and the Internet

question 55

Multiple Choice

Trade that takes place between companies using IT and the Internet to link and coordinate the value chains of different companies is called:

• A)ERP
• B)B2B
• C)B2C
• D)E-trade
• E)EFT

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Definitions:

Inventory Costing Method

A system used to assign costs to inventory and determine the cost of goods sold, examples include FIFO, LIFO, and weighted average.

Declining Prices

A market condition where the prices of goods or services decrease over time, often indicating a surplus or decreased demand.

Net Income

The net income of a business, which is obtained by deducting all costs and taxes from its total revenue.

Physical Count

The actual tallying of inventory goods a company has on hand to verify stock levels and assess the need for adjustment in accounting records.