Vb Sof 540

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SOF640 E-Commerce Final Exam True/False Indicate whether the statement is true or false. ____ 1. Transferring funds, placing orders, sending invoices, and shipping goods to customers are all types of activities or transactions. ____ 2. Business-to-consumer electronic commerce occurs when a person sells an item through a Web auction site to another person. ____ 3. An airline ticket is an excellent example of an item with a high value-to-weight ratio. ____ 4. Electronic commerce reduces the speed and accuracy with which businesses can exchange information. ____ 5. Electronic payment can be easier to audit and monitor than payment made by check. ____ 6. Using the value chain reinforces the idea that electronic commerce should be a…show more content…
____ 36. The lock-in effect makes the task of creating successful general consumer Web sites much easier. ____ 37. Ingram Micro estimates that the auction prices it receives on the auction site averages about 60 percent of the items’ costs. ____ 38. Gordon Brothers Group, a liquidation broker, has been selling the inventory of failed retailers since 1903. ____ 39. Surveys indicate that as many as 50 percent of all Web auction buyers either do not receive the items they purchased or find the items to be different from the seller's representation. ____ 40. Sniping software observes auction progress until the last second or two of the auction clock. ____ 41. Because sniping software synchronizes its internal clock to the auction site clock and executes its bid with a computer’s precision, the software almost always wins out over a human bidder. ____ 42. Businesses that operate on the Web must comply with the same laws and regulations that govern the operations of all businesses. ____ 43. In the physical world, geographic boundaries almost always coincide with legal and cultural boundaries. ____ 44. People enter into contracts on a daily, and often hourly, basis. ____ 45. The Statue of Frauds for every state vary widely with regard to signed writings. ____ 46. A copyright on the design for an invention provides protection for 14 years. ____ 47. Law enforcement agencies have difficulty combating many types of online crime. ____ 48. Ethics issues are

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