The Following Information Was Drawn from Empire's Year 2 and Year

question 80

Multiple Choice

The following information was drawn from Empire's Year 2 and Year 1 year-end balance sheets. $\begin{array}{lrr}&\text { Year } 2&\text { Year } 1\\ \text { Investment Securities } &\$105,000&\$112,500\\\end{array}$
Empire incurred a $1,500 loss on the sale of investment securities during Year 2.No investment securities were purchased during Year 2.Based on this information alone,what is the amount of cash that was collected from the sale of securities?

• A) $7,500
• B) $6,000
• C) $9,000
• D) $1,500

Recognize the importance of timing in using the FAB formula during the sales process.

Understand the buying process stages and how they influence sales strategies.

Define and explain the significance of planning in sales and business strategy.

Understand the significance and steps of the sales process.

---

Definitions:

Ordinary Care

The level of caution and attention to duty that a reasonable person would employ in similar circumstances, often relevant in negligence cases.

Bailment

The act of temporarily placing control over, or possession of, personal property by one person into the hands of another, under agreement.

Reasonable Care

A legal standard implying that a person or entity should act with the caution and prudence that a reasonable person would use in similar circumstances.

Conditional Gift

A gift given with specific conditions attached, which must be fulfilled for the gift to be fully transferred to the recipient.