Internet companies that simply act as agent or broker in a transaction must record sales based on
A)"gross" basis.
B)"net" basis.
C)"installment" basis.
D)"discount" basis.

Question

Quizplus · Accepted Answer

Internet companies that act merely as agents or brokers in transactions typically record sales on a "net" basis. This means they report the net amount of commissions or fees earned from the transactions, rather than the total transaction value (gross amount).

Internet Companies That Simply Act as Agent or Broker in a Transaction