The Major Purpose of a Call Report Is To

question 28

Multiple Choice

The major purpose of a call report is to:

• A)record the time and date of all phone calls
• B)record the contact information of the customers the salesperson is due to call that day
• C)provide a summary of time spent with each customer
• D)provide a precise record of purchases by each customer
• E)provide a summary of what happened during the call and an indication of what future action is required

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Definitions:

Unrealized Profits

Gains on assets that have appreciated in value but have not been sold, and therefore, the gains are not reflected in the financial results as actual income.

Upstream Sales

Transactions in which a subsidiary sells goods or services to its parent company, often analyzed for transfer pricing and tax considerations.

Unrealized Profits

Profits that have been generated on paper through investments and other financial instruments but have not yet been realized through actual transactions.

Journal Entry

A recorded transaction in the financial accounting system, documenting the debits and credits necessary to maintain the balance sheet's integrity.