When Compared to the T-Account Close,the Modified T-Account Close

question 94

Multiple Choice

When compared to the T-account close,the modified T-account close:

• A) uses debits and credits columns.
• B) is similar to the continuous-yes close.
• C) deals with the reasons for not buying.
• D) can only be created by the prospect.
• E) is similar to the summary-of-benefits close.

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Definitions:

Petty Cash

A small amount of cash kept on hand in a business for making everyday, minor expenditures.

Cash Reserve

Funds that a company sets aside to meet short-term and emergency funding needs.

Right of Return

A policy allowing customers to return purchased goods within a certain period, usually with conditions attached.

Sales Assistance

Support activities provided to help in the selling of products or services, including marketing, promotional efforts, and customer service.