What Is the First Step in the Sales Process

question 23

Multiple Choice

What is the first step in the sales process?

• A) presenting the product or service
• B) prospecting and qualifying
• C) demonstrating the product
• D) approaching the potential customer

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Definitions:

Perpetual Inventory System

An inventory management method that continuously updates the balance of merchandise by recording each sales and purchase transaction.

Inventory Account

An asset account on the balance sheet that reports the value of a company's inventory, which includes goods that are in the process of being produced for sale and finished goods.

Perpetual Inventory System

A method of continuously tracking inventory levels, costs, and sales in real time, reducing the need for physical inventories.

Purchases Account

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