Which of the Following Options Best Represents the Sales Process

question 20

Multiple Choice

Which of the following options best represents the sales process?

• A) Prospecting and Qualifying, Preplanning, Presentation and Demonstration, Negotiation, Handling Objections and Questions, Closing the Sale, Following Up after Closing
• B) Preplanning, Prospecting and Qualifying, Presentation and Demonstration, Negotiation, Handling Objections and Questions, Closing the Sale, Following Up after Closing
• C) Preplanning, Presentation and Demonstration, Negotiation, Handling Objections and Questions, Closing the Sale, Prospecting and Qualifying, Following Up after Closing
• D) Prospecting and Qualifying, Preplanning, Closing the Sale, Presentation and Demonstration, Negotiation, Handling Objections and Questions, Following Up after Closing

Know various types of accounts (assets, liabilities, equity) and their normal balances.

Distinguish between expenses and prepaid expenses.

Comprehend the structure and components of an account.

Familiarize with the concept and implications of Unearned Revenues and Dividends in accounting.

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Definitions:

Marginal Revenue

The additional income received from selling one more unit of a good or service; it is an important concept in determining optimal output levels.

Break-Even Point

The point at which total costs and total revenue are equal, resulting in no net loss or gain.

Output

The total amount of goods and services produced by an economy, company, or industry within a specific period.

Long-Run Supply Curve

A graphical representation showing the relationship between price and the quantity supplied that firms are willing to produce, given all inputs are variable.