The First Step in the Selling Process Involves Prospecting for Potential

question 66

True/False

The first step in the selling process involves prospecting for potential customers and choosing those most likely to buy.

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Definitions:

Gross Profit

The financial metric that subtracts the cost of goods sold from sales revenue, representing the amount a company makes after covering the direct costs associated with production.

Selling Expenses

Costs associated with marketing and selling a company's products or services.

Net Income

Net income, also known as net profit, is the total earnings of a company after subtracting all expenses, taxes, and costs from total revenue.

Sales Tax

A tax imposed by a government on the sale of goods and services, typically a percentage of the retail price paid by the consumer.