There Is a Strong Presumption That the Written Terms in a Contract

question 42

True/False

There is a strong presumption that the written terms in a contract govern.

Identify and interpret buying signals during a sales presentation.

Understand the ethical considerations in closing sales, including the suitability of the product for the customer.

Realize the significance of the closing step as a part of the sales process, not an isolated event.

Learn the various types of closes and when to use them.

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Definitions:

Expenses

Costs incurred in the process of earning revenue; examples include rent, utilities, and salaries.

Prepaid Rent Expense

An advance payment for rent that is recorded as an asset on the balance sheet until it is consumed or the rental period elapses.

Contra-Asset

An account that offsets an associated asset account on a company's balance sheet, like an allowance for doubtful accounts reducing accounts receivable.

Original Cost

The initial price paid to acquire an asset or service, not accounting for depreciation or adjustments.