Describe the Internet's impact on information along with how these changes are affecting businesses.
What will be an ideal response?
The Internet has changed the way the world accesses, views, finds and uses information. Easy to compile
- searching for information on products, prices, customers, suppliers and partners is faster and easier when
using the Internet Increased richness - Businesses and customers can collect and track more detailed
information when using the Internet. Increased reach - Businesses can share information with numerous
customers all over the world. Improved content - Content and product description establish the common
understanding between both parties to the transaction.
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An agent must perform instructions provided by the principal. If the agent fails to do so, he violates:
a. the duty of cooperation b. the duty of obedience and performance c. the duty to reimburse d. the duty of loyalty e. the duty of accounting
The entry to close the Depreciation Expense account may include a debit to:
A. the Depreciation Expense account and a credit to the Income Summary account. B. the Income Summary account and a credit to the Depreciation Expense account. C. the Depreciation Expense account and a credit to the Accumulated Depreciation account. D. the Accumulated Depreciation account and a credit to the Income Summary account.
What are pyramid schemes?
What will be an ideal response?
An employee devises a payroll scheme that costs the employer $150. The employer discovers the fraud but decides not to confront the employee since the amount of the fraud is small. Discuss why this course of action is not advisable.
What will be an ideal response?