If Possible the Salesperson Should Have the Prospect View, Touch

question 73

True/False

If possible the salesperson should have the prospect view, touch, or test the product during the presentation.

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Definitions:

Posting

The process of recording financial transactions in the appropriate accounts in the ledger of a business.

Prepaid Insurance

An asset account representing the advance payment for insurance coverage, which will be expensed over the period of coverage.

Insurance Premiums

Payments made to an insurance company in exchange for coverage, which can be paid monthly, quarterly, or annually.

Insurance Expense

The cost reported by a company for premiums it pays on its insurance policies, covering risks such as property damage, theft, or liability.