Roger Sells Farm Equipment

question 94

Multiple Choice

Roger sells farm equipment. About twice a month he visits Frank Copeland's farm. Copeland hasn't bought a new piece of equipment in twenty years, but he always seems to know who's in the market for Roger's farm equipment. Copeland likes to gossip and shares his information with Roger freely. Frank Copeland would be a good example of a:

• A)bounce-back
• B)spiff
• C)center of influence
• D)free canvasser
• E)spotter

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Definitions:

Non-current Asset

Assets not expected to be converted into cash, consumed, or utilized within one year of the balance sheet date, including property, plant, and equipment.

IFRS

International Financial Reporting Standards, a set of global accounting standards developed by the International Accounting Standards Board.

Contingent Liabilities

Potential liabilities that may occur depending on the outcome of a future event.

Contingency

An uncertain event or condition that can have a positive or negative impact on a company's financial position if it occurs.