The organized effort of individuals to produce and sell, for a profit, the products and services that satisfy society's needs through the Internet is known as
A. business.
B. economy.
C. entrepreneurship.
D. e-business.
E. e-marketing.
Answer: D
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Stringent governmental regulations (e.g., air quality standards) imposed on domestic steel manufacturers tend to
a. increase the competitiveness of domestic steel manufacturers in the international market. b. reduce the competitiveness of domestic steel manufacturers in the international market. c. increase the profitability and productivity of domestic steel manufacturers. d. reduce the market share of foreign firms selling steel in the domestic market.
The owner's equity is
A) added to assets and the two are equal to liabilities B) added to liabilities and the two are equal to assets C) subtracted from liabilities and the net amount is equal to assets D) subtracted from owner's equity and the net amount is equal to net income
A budget procedure that provides for the maintenance at all times of a twelve-month projection into the future is called continuous budgeting
Indicate whether the statement is true or false
At December 31 of the current year, a company reported the following: Total sales for the current year: $980,000 includes $160,000 in cash salesAccounts receivable balance at Dec. 31, end of current year: $160,000Allowance for Doubtful Accounts balance at January 1, beginning of current year: $7,300 creditBad debts written off during the current year: $5,800.Prepare the necessary adjusting entries to record bad debts expense assuming this company's bad debts are estimated to equal 5% of accounts receivable.
What will be an ideal response?