You Own an Internet Company That Sells Gift Baskets

question 141

Essay

You own an Internet company that sells gift baskets.A customer can pick out what she wants in the basket to make it a personalized gift.You have demographic information about the buyer that you have stored in your database.You also have stored the addresses of the basket recipients,when the basket was sent,and if it was sent for a special occasion.How can you use this database?

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Definitions:

Note Receivable

A written promise that one party will pay another party a specified sum of money, either on demand or at a set future date.

Promissory Note

A financial instrument in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms.

Accounts Receivable

Funds that customers owe to a business for products or services already provided but not yet compensated for.

Maker

The entity that issues or creates a promissory note and agrees to pay the note's amount to a specified party.