Use the Following Information for Questions

question 23

Multiple Choice

Use the following information for questions.
At December 31, 2019, the balance in Helsinki Ltd.'s retained earnings account was $ 420,000. During 2020, Helsinki had the following transactions:
Acquired 5,000 treasury shares at $ 27 a share. The shares are no par and had originally been issued for $ 24 per share. There had been no previous treasury shares transactions.
Sold the 5,000 treasury shares at $ 32 a share.
Reported net income of $ 150,000.
-Instead, assume Helsinki cancelled the 5,000 shares when it acquired them. The balance in retained earnings at December 31, 2020 would then be

• A) $ 555,000.
• B) $ 570,000.
• C) $ 585,000.
• D) $ 610,000.

Learn the stages of the personal selling process.

Understand the essential components and steps involved in sales plan formulation.

Recognize the significance and techniques of follow-up in the personal selling process.

Identify and differentiate between various sales objectives (output-related, input-related, behaviorally related, etc.).

---

Definitions:

Supply Availability

The extent to which goods, services, and materials needed by consumers or businesses are available for purchase or delivery.

Supply Research

The process of studying the market and suppliers to understand the availability, quality, and cost of materials or services needed by a business.

Benchmarking

A method of measuring the performance of a company's products, services, or processes against those of another business considered to be the best in the industry.

Purchasing Process

A series of steps taken by organizations to acquire goods or services, typically including identification of needs, selection of suppliers, negotiation, and payment.