Larry Is a New Sales Rep

question 101

Multiple Choice

Larry is a new sales rep. He has designed his sales strategy and allocated resources. Next, Larry will need to:

• A)set new goals.
• B)implement a time and territory strategy.
• C)reallocate resources.
• D)do paper work before beginning his sales strategy.
• E)evaluate his performance to date.

---

Definitions:

Entity Method

An accounting approach used in preparing consolidated financial statements where investments in subsidiaries are recorded at cost and adjusted for the parent company's share of the subsidiaries' post-acquisition profits or losses.

Shareholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the owners' claim on the business assets.

Accumulated Depreciation

The cumulative depreciation of an asset up to a single point in its life, reflecting the decrease in value due to wear and tear, age, or obsolescence.

Consolidated Financial Statements

Financial statements that represent the aggregation of a parent company and its subsidiaries, presenting the financial position and results of operations as if the group were a single entity.