When a company gives credit to a customer, it may create which of the following?
a. a retainer account
b. an installment account c. an open account
d. an installment account or an open account
e. an installment account or an open account or a retainer account
d
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There are some liabilities, such as income tax payable, for which the amounts must be estimated. Failure to estimate these amounts and record them would be a violation of the
a. matching principle b. convention of conservation c. practice of consistency d. concept of historical cost
Copper Company began operations in April and then engaged in the following transactions during April Performed services for cash $215,000 Performed services on credit 168,000 Purchased office supplies on account 56,000 Paid salaries in cash 29,000 Collected on account 22,000 Paid on account ? If the balance in cash after these transactions is $165,000, how much cash was paid on account?
A) $43,000 B) $57,000 C) $1,000 D) $21,000
Which of the following are brief, lasting only seconds or minutes, but intense enough to disrupt a person’s thinking?
A. personalities B. moods C. emotions D. habits
Salespeople ensure that delivery schedules are met, that the good or service performs as promised, and that buyers are trained in the use of the product. All of these functions are part of _____, the final step in the selling process.
A. the preapproach B. closing C. lead qualification D. follow-up E. the sales presentation