Your Sister Just Started a Company That Provides Individuals and Organizations

question 60

Multiple Choice

Your sister just started a company that provides individuals and organizations access to the Internet for a small fee. Which of the following describes her company?

• A)access provider
• B)regional broadband domain monitor
• C)wireless Internet technology disseminator
• D)broadband network gateway administrator

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Definitions:

Debit Side

The left side of an account in double-entry bookkeeping, used to record increases in assets, expenses, and losses or decreases in liabilities, equity, and revenue.

Overapplied Overhead

Occurs when the overhead allocated to products or services exceeds the actual overhead costs incurred.

Australian Accounting Standards

The set of principles and requirements that guide financial reporting and accounting practices in Australia, ensuring consistency and transparency.

Market Value

The current price at which an asset or service can be bought or sold in the open market.