The Financial Accounting Standards Board Only Sets Standards for Accountants

question 191

True/False

The Financial Accounting Standards Board only sets standards for accountants in the private sector;however,government accountants have no universally accepted procedures that they must follow.

---

Definitions:

B2B Sales

Business-to-Business sales involve transactions between two companies, rather than between a company and individual consumer.

Preapproach Stage

The stage in the selling process where the salesperson gathers information and prepares for a sales presentation.

Personal Selling Process

A direct method of selling where a salesperson personally presents products or services to potential customers with the aim of making a sale.

Reservation

The act of booking or securing a service or space in advance, such as a hotel room, a table at a restaurant, or a ticket for an event.