What Does the First Step in the SPES Sequence Stand

question 1

Multiple Choice

What does the first step in the SPES Sequence stand for?

• A) situation description
• B) state the concern
• C) state the selling point and introduce the sales aid
• D) summarize the benefit

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Definitions:

Purchases Account

An account used in an accounting system to record the purchase of goods or services that a business intends to resell.

FOB Destination

In this shipping term, the seller retains the risk of loss until the goods reach the buyer's location.

FOB Shipping Point

This refers to a shipping term where the buyer assumes responsibility for the goods the moment they leave the seller’s premises.

Accounts Payable

A liability account that records amounts the company owes to suppliers or creditors for purchases or services received on credit.