All of the Following Are Ways Social Networks Generate Revenues

question 16

Multiple Choice

All of the following are ways social networks generate revenues except:

• A)offer a premium service for a monthly or per service fee
• B)charge organizations a monthly service fee
• C)host auctions for individuals or enterprises
• D)have members pay a fee to be affiliated with the social network

Understand the accounting treatment for payment of vouchers within and after discount periods.

Master the categorization of accounts and understand their normal balances, reporting in financial statements, and nature (permanent/temporary).

Understand different categories of accounts in accounting.

Identify the normal balance for various accounts.

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Definitions:

Limited Liability Partnership Law

Legal provisions governing a partnership in which some or all partners have limited liabilities, protecting personal assets from the debts and liabilities of the business.

Shareholders

Individuals or entities that own shares in a company, making them partial owners of that company.

LLC

Limited Liability Company, a business structure in the United States that protects its owners from personal responsibility for its debts or liabilities.

Joint Venture

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task.