Describe a company that would be likely to use a company sales force, and a second company that would be likely to use manufacturer's representatives. Explain why these companies would make these choices.
What will be an ideal response?
Students should demonstrate an understanding of the two types of reps. A company sales force is comprised of people who are employees of the selling company, and are typically used for established product lines. Independent agents, also known as manufacturer's representatives, are salespeople who sell a manufacturer's products on an extended contract basis but are not employees of the manufacturer. They are compensated by commissions and do not take ownership or physical possession of the merchandise. They are useful for smaller firms, or those expanding into new markets.
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a. True b. False Indicate whether the statement is true or false
Answer the following statements true (T) or false (F)
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The UCC alters the perfect tender rule with regard to installment contracts
Indicate whether the statement is true or false
On December 31, Carmack Company received a $215 utility bill for December that it will not pay until January 15. The adjusting entry needed on December 31 to accrue this expense is:
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