A Review of the Personal Selling Process Indicates That Selling

question 143

Multiple Choice

A review of the personal selling process indicates that selling is

• A) a matter of establishing relationships.
• B) getting a name on a sales contract.
• C) about 90 percent luck and 10 percent skill.
• D) giving way to computers in responding to consumer needs.

---

Definitions:

Resulting Trust

A trust formed by implication of law when property is transferred under circumstances suggesting the transferor does not intend the transferee to have beneficial interest in the property.

Revocable Living Trust

A legal document that allows an individual to control their assets during their lifetime and specify how these assets are distributed upon their death. It can be altered or revoked.

Constructive Trust

An equitable remedy imposed by a court to rectify situations where injustice would otherwise occur due to wrongful possession of property.

Irrevocable Living Trust

A legal arrangement where a grantor places assets into a trust, relinquishing control over them, and the assets are managed by a trustee for the benefit of the trust's beneficiaries. Once established, it cannot be amended or dissolved.