Anthony Is a Sales Manager and Trying to Determine the Best

question 106

Multiple Choice

Anthony is a sales manager and trying to determine the best type of relationship to seek with the different account groups his company serves. Anthony should keep in mind that:

• A) Most customers prefer a lower level transaction-based relationship.
• B) Most customers prefer a higher level collaborative relationship.
• C) Selling costs are increased when serving accounts with higher-level relationships.
• D) The relationship desired by the customer takes priority over the cost of serving that customer.
• E) Anthony needs to keep each of the above in mind.

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Definitions:

Outstanding Checks

Checks that have been written and recorded in accounting but have not yet been cashed or cleared by the bank.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those shown on a bank statement to ensure accuracy and consistency in financial records.

Outstanding Checks

Outstanding checks are checks that have been written and recorded in the payor's ledger but have not yet been cashed or cleared by the bank.

Deposits In Transit

Bank deposits that have been made but not yet credited to the business's bank account, typically appearing on a bank reconciliation statement.