Using the Internet to perform business transactions is called ...

[ARLKQ]

Using the Internet to perform business transactions is called e-commerce.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

The Village of Catlett provides electricity to its residents through an Enterprise Fund (EF). The EF's fiscal year ends June 30 . Its last payroll period starts June 26 and ends July 7 .
 
  For financial reporting purposes, how should the EF handle the salaries earned by its employees June 26-30?
   a. Nothing should be done, because nothing needs to be reported for the period June 26-30
   b. The EF should report salary expense and a liability for salaries earned by employees during June 26-30
   c. The EF should report a liability for salaries earned and expected to be earned from June 26 to July 7
   d. The EF should disclose the salaries earned, but not paid, in a note to the financial statements

[meltdown117]

Answer to Question 1

True

Answer to Question 2

b

[ARLKQ]

TYSM

[strudel15]

Excellent