A Sales Manager Allows a Senior Sales Person to Use

question 108

True/False

A sales manager allows a senior sales person to use her judgment in granting different levels of discounts for her clients.This is an example of empowerment.

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Definitions:

Perpetual inventory system

An accounting method that records the sale or purchase of inventory immediately through computerized point-of-sale systems and enterprise asset management software.

FIFO inventory cost method

An inventory valuation method where costs of the earliest goods purchased are the first to be recognized in determining cost of goods sold.

Inventory costing method

A system or technique used by companies to assign costs to inventory and goods sold; common methods include FIFO, LIFO, and average cost.

Ending inventory

The total value of goods available for sale at the end of an accounting period after all sales transactions have been accounted for.