An Internal Sales Forecast Is Based on the Relationships That

question 177

True/False

An internal sales forecast is based on the relationships that can be observed between the firm's sales and certain key economic indicators such as the gross domestic product, new housing starts, or disposable personal income.

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Definitions:

Past Consideration

A concept in contract law that refers to a benefit or act that has already been given or performed before the promise is made, which is not valid consideration for a current contract.

Bilateral Contract

An agreement involving two parties where each promises to perform an act in exchange for the other's act.

Return Promise

An agreement in a contract where one party promises to perform an action in response to the performance of a second party.

Objective Standard

An objective standard refers to a legal criterion that is based on factual measurements or external circumstances, rather than personal opinions or feelings.