Even Though It Is Not Actively Involved in Global Marketing

question 65

True/False

Even though it is not actively involved in global marketing, Hennessey Enterprises, a Canadian business, agreed to sell 2,000 of its stress-reducing products to a distribution company in Norway. This would be an example of exporting.

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Definitions:

Bank Reconciliation

The process of matching the balances in an entity’s accounting records for a cash account to the corresponding information on a bank statement.

Cash Account

An account that tracks the amount of cash on hand, including currency, checks, and balances in bank accounts.

Accounts Receivable

Debts owed by clients to a firm for goods or services provided but not yet compensated for.

Sales Revenue

The overall amount of money a business earns through the sale of products or services, prior to deducting any costs.