Tag: introduction to internet and e-commerce

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Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

Purchase option's advantage (S) is (are) ________________.

  1. No financing is required. The risk of system obsolescence is shifted to the lessor

  2. The flexibility of modifying the system at work

  3. Insurance, maintenance and other expenses which are included in the rental charge

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The purchase option (often in leasing or equipment acquisition) can include various benefits like no immediate financing, shifting obsolescence risk, and bundled services like maintenance.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

For electronic banking, we should ensure the existence and procedures with regard to

  1. Identification of banking, we should ensure the existence and procedures with regard to

  2. Corrective steps to be taken in case of any deficiencies in the system.

  3. Steps for complying with the laws, rules and regulations

  4. All of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

For electronic banking, we should ensure the existence and procedures with regard to identification of banking.

Electronic banking means 24-hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking involves many different types of transactions, rights, responsibilities. 

Online banking, also known as internet banking, it is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.

A bank identification number (BIN) is the initial four to six numbers that appear on a credit card. The bank identification number uniquely identifies the institution issuing the card. The BIN is key in the process of matching transactions to the issuer of the charge card.

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

___________ is a used for online transactions.

  1. Physical terminal transaction systems

  2. Software terminal transaction systems

  3. Virtual terminals or gateways

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Used for online transactions:-

1) Physical terminal transaction systems

2) Software terminal transaction systems:-

Transaction processing is a way of computing that divides work into individual, indivisible operations, called transactions. A transaction processing system (TPS) is a software system, or software/hardware combination, that supports transaction processing.

A payment terminal, also known as a point of sale terminal, credit card terminal, EFTPOS terminal is a device which interfaces with payment cards to make electronic funds transfers.

3) Virtual terminals or gateways:-

A virtual payment terminal is a Web-based version of a credit card swipe device that allows merchants to process orders made by mail, over the phone or online.

Virtual terminals facilitate payment for small businesses that might otherwise have difficulty accepting credit card payments.


 

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

It is a plastic card that is similar to a credit card. It has a silicon chip embedded in it. It can store 64 kilobytes of data and instructions-

  1. Data card

  2. Smart card

  3. Digital card

  4. Bit card
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Smart card is a plastic card that is similar to a credit card. It has a silicon chip embedded in it. It can store 64 kilobytes of data and instructions.

A smart card is a security token that has an embedded chip. Smart cards are typically the same size as a driver's license and can be made out of metal or plastic. They connect to a reader either by direct physical contact or through a short-range wireless connectivity standard such as Near Field Communication. It is an  integrated circuit card (ICC), is any pocket-sized card that has embedded integrated circuits.

 

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

To ensure that the data is not corrupted during the processing of e-commerce transactions, we should take care that ___________.

  1. Incompatible data types are not entered

  2. Invalid credit card numbers are not entered

  3. All physical access controls are working

  4. All of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

To ensure that the data is not corrupted during the processing of e-commerce transactions, we should take care that invalid credit card numbers are not entered.

The number is not matching up with any valid accounts when we send it for processing. Make sure that: You have entered the number from the front of the card with no dashes or spaces. 

A payment gateway is a processing unit that approves online payments (debit cards, credit cards, e-wallets, net banking) for online purchases. The gateways protect highly sensitive details like account holder details, card details, and so on. The data is transferred securely between the two groups: merchant site and customer.

 

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

__________ can be one of the approach used to tax online transactions.

  1. Permanent establishment

  2. Residence-based

  3. Income-based classification

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

One of the approach used to tax online transactions.

1) Permanent establishment:-

A permanent establishment (PE) is a fixed place of business which generally gives rise to income or value-added tax liability in a particular jurisdiction.

2) Residence-based:-

Income or profits which result from international activities such as cross-border investment may be taxed where the income is earned (the source country), or where the person who receives it is normally based (the country of residence).

3) Income-based classification.


Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

An IT operation success is in terms of :

  1. Technological value added to the organisation

  2. Its impact on other business processes and business units

  3. Decreased costs and increased revenue

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

An IT operation success is in terms of:-

1) Technological value added to the organization.

2) Its impact on other business processes and business units:-

A business process is a collection of related, structured activities or tasks that in a specific sequence produces a service or product for a particular customer or customers. A business process may often be visualized as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change.

3) Decreased costs and increased revenue

Revenue is the amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the top line or gross income figure from which costs are subtracted to determine net income.

Reducing costs increases profitability, but only if sales price and number of sales remain constant. If cost reductions result in a lowering of the quality of the company's products, then the company may be forced to reduce prices to maintain the same level of sales. 


 

Multiple choice organisation of commerce and management recent trends of business e-commerce and mobile commerce introduction to internet and e-commerce emerging modes of services

Which of the following is a way of Electronic payment ?

  1. Digital token

  2. Credit card

  3. Small card

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Digital token, credit card, small card are a way of electronic payment 

An e-payment system is a way of making transactions or paying for goods and services through an electronic medium, without the use of checks or cash. It's also called an electronic payment system or online payment system.

 

The digital token based payment system is a new form of electronic payment system which is based on electronic tokens rather than e-cheque or e-cash. Electronic payment system is a way of paying for a goods or services electronically, instead of using cash or a check, in person or by mail.

 

A credit card is different from a debit card in that it does not remove money from the user's account after every transaction.