When a Material Gain Contingency Is Probable and the Amount

question 60

Multiple Choice

When a material gain contingency is probable and the amount of gain can be reasonably estimated, the gain should be:

• A) Reported in the income statement and disclosed.
• B) Offset against shareholders' equity.
• C) Disclosed but not recognized in the income statement.
• D) Neither recognized in the income statement nor disclosed.

Recognize symptoms that indicate a need for immediate medical attention and appropriate responses.

Know how to manage angry or dissatisfied callers in a professional manner.

Navigate and apply the office policy and procedure manuals in handling various types of calls.

Understand the importance of asking for permission before putting callers on hold and managing long or complicated calls effectively.

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Definitions:

Planning

Establishing a broad outline for goals, policies, and procedures that will accomplish the objectives of the organization.

Sales Call

A sales call is a communication attempt, either face-to-face or via telephone, made by a salesperson to pitch a product or service to a potential customer.

Purpose

The motive behind doing or creating something, or the reason for its existence.