A salesperson that has product knowledge has all he or she needs to achieve high levels of sales performance.
Answer the following statement true (T) or false (F)
False
Product knowledge is typically not enough to achieve high levels of sales performance. One also needs market-related knowledge and selling-related knowledge.
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When a product solves an everyday life problem, the executional framework being used in the ad is most likely:
A) slice-of-life B) authoritative C) fantasy D) informative
Engagement Quality Review Morgan Thompson, CPA is a partner in a medium-sized CPA firm and takes an active part in the conduct of every audit she supervises. She follows the practice of reviewing all audit files of staff auditors on her team as soon as
it is convenient, rather than waiting until the end of the audit. When the audit is nearly finished, Thompson reviews the audit files again to make sure that she has not missed anything significant. Because she makes most of the major decisions on the audit, there is rarely anything that requires further investigation. When she completes the review, she prepares a draft of the financial statements, gets them approved by management, and has them assembled in her firm's office. No other partner reviews the audit documentation, because Thompson is responsible for signing the audit reports. REQUIRED: (1) Evaluate the practice of not having a concurring partner review of the audit documentation by another partner in the firm, (2) explain some of the procedures the reviewer should perform as part of the review process, and (3) what documentation should be included.
Sales tax payable is a liability account that is debited when payment of tax is made to the taxing authority
Indicate whether the statement is true or false
If merchandise costing $500 is sold on account for $620, how is this transaction recorded when using a perpetual inventory system?
A. Debit Accounts Receivable and credit Sales Revenue for $620; debit Inventory and credit Cost of Goods Sold for $500. B. Debit Accounts Receivable, credit Sales Revenue for $620; debit Cost of Goods Sold, and credit Inventory for $500. C. Debit Accounts Receivable and credit Sales Revenue for $620. D. Debit Cash and credit Sales Revenue for $620; debit Cost of Goods Sold and credit Inventory for $500.