For Each of the Following Accounts,indicate What Event Causes the Account

question 12

Essay

For each of the following accounts,indicate what event causes the account to increase and to decrease.The answer is not debit or credit.
$\begin{array} { | l | l | l | } \hline \text { Account } & \text { Is increased by: } & \text { Is decreased by: } \\\hline \text { Raw Materials } & & \\\text { Inventory } & & \\\hline \text { Work-in-Process } & & \\\text { inventory } & & \\\hline \text { Finished Goods } \\\text { Inventory } & & \\\hline \text { Cost of Goods Sold } & & \\\hline\end{array}$

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Definitions:

Face-To-Face Encounter

A personal interaction between two or more people in the same physical location, often for business or social purposes.

Sales Management

Planning the selling program and implementing and evaluating the personal selling effort of the firm.

Selling Program

A planned set of activities and strategies designed to successfully sell a product or service to a target market.

Personal Selling

The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision.