Question

1. Which of the following are considered forms of electronic commerce?

1. Electronic data interchange
2. ASC X12
3. UN/EDIFACT
4. Electronic funds transfer
5. Web-based commerce

1. I, II, III and V only
2. II, III and V only
3. I, IV and V only
4. I, II, III, IV and V

Answer 1

D is the right answer. All these are part of Electronic commerce.

E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.

i. Electronic Data Interchange (EDI): is the electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper.

ii. ASC X12: Accredited Standards Committee X12 (ASC x12), Electronic Data Interchange. An ANSI committee chartered to develop uniform standards for the electronic exchange of business documents.

iii. UN/EDIFACT – EDIFACT: This is EDI for administration, commerce and transport. It is widely used throughout the world except in North America.

iv. Electronic Funds Transfer (EFT): Automatically transferring payment to a provider’s or supplier’s bank account.

V. Web-based commerce is part of E-commerce systems which includes a client system, a merchant system, a transaction system and a payment gateway.