During the Process of Account Classification, It Is Not Uncommon

question 63

Multiple Choice

During the process of account classification, it is not uncommon for salespeople to find ________?

• A) 60 percent of their customers generate 30 percent of their sales potential.
• B) 20 percent of their customers generate 80 percent of their sale potential.
• C) 50 percent of their customers are high volume customers and 50 percent are low volume customers.
• D) Most accounts can be classified into one of two categories.
• E) Several accounts that generate little sales potential and even fewer that generate high sales potential.

Recognize the importance of active learning and its design elements.

Understand the importance and purpose of feedback and knowledge of results in training.

Compare and assess the advantages and disadvantages of developing internal training programs versus purchasing packaged programs.

Define active practice and explain its relevance in training programs.

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Definitions:

Beginning Inventory

The value of all goods available for sale at the start of an accounting period.

Net Income

The net income of a business following the subtraction of all costs, taxes, and operational expenses from its revenue.

Straight-Line Depreciation

A method of allocating an asset's cost evenly over its useful life, resulting in a constant annual expense.

Journal Entry

A record in accounting that documents a business transaction and its effect on various accounts, used to keep track of financial events by debits and credits.