Ned Is a Customer Service Representative at Landmark State Bank

question 85

Multiple Choice

Ned is a customer service representative at Landmark State Bank. When a person comes in to get assistance with his or her checking account or open a new account, Ned also suggests the client rent one of the bank's safe deposit boxes to store valuables. Ned is engaging in:

• A)trading up.
• B)total customer service.
• C)upgrading.
• D)total customer management.
• E)none of the above

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Definitions:

Deposit Method

An accounting method used for recognizing revenue and expenses related to long-term contracts where the earnings process is incomplete.

Revenue Recognition

The accounting principle that outlines the specific conditions under which revenue is recognized or recorded.

Initial Direct Costs

Upfront expenditures that are directly associated with securing a contract or lease, such as legal and brokerage fees.

Service Costs

The expenses recognized in the period in which employees render services to obtain future benefits under a defined benefit plan.