For Each of the Following Statements,indicate Whether It Applies To

question 156

Essay

For each of the following statements,indicate whether it applies to:
the cash basis of accounting (cash basis)
the accrual basis of accounting (accrual basis)
both the cash and accrual basis of accounting (both)
neither the cash nor the accrual basis of accounting (neither).
Your response should be cash basis,accrual basis,both,or neither.
$$\begin{array} {|l | l | } \hline \text { Statement } & \text { Applies to } \\\hline \text { An easier method of accounting to } & \\\text { follow } & \\\hline \text { Provides a better picture of a } & \\\text { business's revenues and expenses } & \\\hline \text { Small businesses may use this } & \\\text { method } & \\\hline\end{array}$$

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Definitions:

Servicing

The process of maintaining or repairing a product or fulfilling the terms of a service agreement.

Personal Selling Process

Sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up.

Approach Stage

The phase in a project or process where strategies are developed and plans are made to tackle objectives or problems.

Preapproach

The stage in the sales process where initial research about a potential customer is conducted before making contact.