When the Internal Revenue Service Encourages Individual Taxpayers to Submit

question 54

Multiple Choice

When the Internal Revenue Service encourages individual taxpayers to submit forms electronically, it is engaging in which form of e-business?

• A)B2C
• B)G2C
• C)C2C
• D)B2B

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Definitions:

Receivable

Amounts of money owed to a company by customers or clients for goods or services delivered but not yet paid for.

Average Collection Period

The average collection period is the average number of days it takes for a business to receive payments owed by its customers for sales made on credit.

Accounts Receivable

Funds that are owed to a company by its customers for products or services provided on credit.

Note Receivable

A written promise that one party will receive a certain amount of money from another party at a future date, categorized as an asset.