Asked by Emily Snoke on May 03, 2024
Verified
E-commerce
A) accounts for less than 1% of all retail sales
B) only relates to transactions between a company and a consumer
C) can improve the speed and efficiency of transactions
D) increases paperwork
E-commerce
E-commerce refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions.
Retail Sales
The selling of goods and services directly to consumers for personal use.
Transactions
Financial activities involving exchanges of value between two parties, often recorded and tracked in accounting systems.
- Comprehend the foundation and ramifications of electronic commerce as it pertains to accounting.
Verified Answer
YS
Yashashvi SharmaMay 10, 2024
Final Answer :
C
Explanation :
E-commerce can improve the speed and efficiency of transactions by eliminating the need for physical stores and allowing customers to purchase products online. It also streamlines the ordering and payment process for both the consumer and the company. Therefore, option C is the correct answer. Option A is incorrect as E-commerce now accounts for a significant proportion of retail sales. Option B is incorrect as E-commerce can also involve transactions between businesses. Option D is incorrect as E-commerce reduces paperwork by automating processes.
Learning Objectives
- Comprehend the foundation and ramifications of electronic commerce as it pertains to accounting.