Define and Describe the Functionality of Customer Relationship Management (CRM)

question 14

Essay

Define and describe the functionality of customer relationship management (CRM) systems.

Identify and describe the impact of using different methods for recognizing expenses and revenues, specifically the matching principle and materiality constraint.

Understand the process and accounting treatment for the factoring of receivables.

Describe various measures and ratios to assess the effectiveness of a company’s credit and collection policies.

Understand the implications and accounting treatments of credit card sales for businesses.

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Definitions:

Higher-order Conditioning

A form of learning in which a stimulus is first made meaningful or consequential for an organism through an initial step of learning, and then that stimulus is used as a basis for learning about some new stimulus.

Disinhibition

The reduction of inhibition, leading to an increase in spontaneous and unrestrained behavior, often as an effect of alcohol or neural damage.

Sensitization

An increased reaction to a stimulus following its repeated presentation, often observed in allergic reactions or in response to drugs.

Behavioral Contrast

The phenomenon where the rate of response to a stimulus changes significantly when the conditions of reinforcement for another stimulus are altered.