"Add 100 New Customers Per Month" Is an Example of Setting

question 52

Multiple Choice

"Add 100 new customers per month" is an example of setting a _______ objective.

• A)dollar or unit sales volume
• B)product knowledge
• C)number of sales calls
• D)sales expenses

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Definitions:

12-month Period

A 12-month period typically refers to a full year, used in financial reporting and analysis to compare performance or changes over the span of a year.

Income Summary Account

A temporary account used in the closing process to summarize the period's revenues and expenses before transferring the net income or loss to retained earnings.

Permanent Accounts

Permanent accounts refer to the balance sheet accounts whose balances are carried over into the next accounting period, including assets, liabilities, and equity accounts.

Revenue Recognition Principle

An accounting principle that dictates the specific conditions under which revenue is recognized or recorded, ensuring it's captured in the period it is earned.