How Should a Salesperson Close Out a Successful Sale

question 83

Essay

How should a salesperson close out a successful sale?

Grasp the criteria for capitalizing expenditures and distinguishing between capital and revenue expenditures.

Learn the journal entry preparation for disposal of fixed assets and understanding the effect on financial statements.

Know the accounting treatment for intangible assets including amortization, impairment, and write-offs.

Comprehend the accounting rules for asset trade-ins and how they affect the cost basis of the new asset.

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Definitions:

Comparative Negligence

A legal doctrine in tort law that reduces the amount of damages a plaintiff can recover in a negligence-based claim, based upon the degree to which the plaintiff's own negligence contributed to cause the injury.

Assault

A deliberate action by someone that causes another person to fear an immediate harmful or offensive touch.

Battery

An illegal act that involves physically executing a threat, different from assault which involves causing fear of that contact.

Heated Conversation

An intense or emotionally charged discussion, often involving disagreement or conflict.