Question

In: Accounting

Q. Computers and Accounts receivable (6 marks) Explain how computers have become essential to online retailing....

Q. Computers and Accounts receivable

Explain how computers have become essential to online retailing. Use eBay as an example.

Solutions

Expert Solution

E-commerce has taken over the retailing world in the past decade. With a few clicks, any item you desire can be delivered at your doorstop. Technology has played a role of prime importance in accomplishing this feat and so have the medium i.e. computers.

Let us consider the example of e-bay. E-bay is an online market place which gets buyers and sellers together. All these buyers and sellers use a common interface to connect i.e. their computers. Buyers use the search engine to look for their requirement, sellers use the uploading function to display information about their product along with the features. Buyers frequently bid online and a sale is made at the price agreeable to both buyer and seller.

All of these activities happen online with just a few clicks. Further, payment is made online and the billing and shipping address is fed to the website's database for delivery purposes. Any return queries can also be addressed later using the return within 7 days policy.

Thus, it can be concluded that without computers an online market place like e-bay would not exist.

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

1.explain why malls with many specialized stores have become a prevalent way of retailing relative to...
1.explain why malls with many specialized stores have become a prevalent way of retailing relative to large department stores. How can you reconcile what your answer to this with the following: During the 1980s, several American firms opened “hypermarts,” enormous stores that sold groceries, household goods, hardware, and other products all under one roof?
Explain the percentage of accounts receivable and the accounts receivable aging allowance methods.
Explain the percentage of accounts receivable and the accounts receivable aging allowance methods.
Explain online retailing and debate on its advantages and challenges for today’s world.
Explain online retailing and debate on its advantages and challenges for today’s world.
What is accounts receivable? What is notes receivable and how are they different than accounts receivable?...
What is accounts receivable? What is notes receivable and how are they different than accounts receivable? How do creditors decide to extend credit to their customers? What processes do credit managers use to evaluate new customers? Now explain the allowance for doubtful accounts and provide examples.
Indicate the essential functions of the accounts receivable administration and the related tasks. Finance company A...
Indicate the essential functions of the accounts receivable administration and the related tasks. Finance company A finance company grants credits with various terms, partly on security and partly blank. Second or third mortgages are accepted as security. Collateral in the form of cars, boats and the like are accepted as well. Credits may be granted at a fixed interest percentage during the entire credit term, or at percentages which are adapted monthly to market developments. Monthly installments are either fixed...
What factors have led to the growth of online retailing in the last fifteen years?
What factors have led to the growth of online retailing in the last fifteen years?
What factors have led to the growth of online retailing in the last fifteen years?
What factors have led to the growth of online retailing in the last fifteen years?
As teaching and learning online become a must, every student and lecturer have smartphone. How the...
As teaching and learning online become a must, every student and lecturer have smartphone. How the School could use such equipment for performance assessment? Read the paper below for reference
1. Indicate the essential functions of the accounts receivable administration and the related tasks. 2. Also...
1. Indicate the essential functions of the accounts receivable administration and the related tasks. 2. Also indicate those internal control measures that need to guarantee a satisfactory execution of these tasks. 3. Describe four ways in which accounts receivable can be recorded. 4. Provide a normative internal control description with respect to the accounts receivable administration for the two organizations described below. Besides the position of accounts receivable, the creation and settlement of receivables deserve specific attention. Finance company A...
Identify the different types of receivables and explain how companies recognize accounts receivable.
Identify the different types of receivables and explain how companies recognize accounts receivable.
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT