Which of the Following Statements Is Correct? 54)

question 121

Multiple Choice

Which of the following statements is correct? 54)

• A)Goods and services are commonly sold to customers on the basis of oral or implied promises of future payment, called promissory notes.
• B)Increases and decreases in cash are always recorded in the equity account.
• C)An account called Land is commonly used to record increases and decreases in the land and buildings owned by a business.
• D)When an insurance premium is paid in advance, the payment is normally recorded in a liability account called Prepaid Insurance.
• E)None of these statements are correct.

---

Definitions:

Presentation

A formal display or demonstration of a subject, often involving spoken words and visual aids, to convey information to an audience.

Personal-Selling Process

a direct marketing approach where salespersons use personal contact with potential buyers to understand their needs and offer solutions in the form of products or services.

Customer Satisfaction

A state that is achieved when companies meet the needs and expectations customers have for their goods or services.

Long-Term Sales

Sales strategies focused on achieving sustained revenue growth over an extended period rather than immediate gains.