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:

Ordinary Annuity

A series of equal payments made at regular intervals, with the interest compounded at a fixed rate.

Outstanding Balance

This refers to the total amount of money owed on a loan or credit line that has not yet been paid back by the borrower.

Annual Installments

Payments made yearly towards the settlement of a debt or purchase price over a fixed period.

Interest

Interest is the charge for borrowing money or the compensation paid to depositors, calculated as a percentage of the principal amount.