The Specific Sales or Profit Objective a Salesperson Is Expected

question 62

Multiple Choice

The specific sales or profit objective a salesperson is expected to achieve is known as a:

• A) Sales quota.
• B) Sales range.
• C) Sales standard.
• D) Sales return.
• E) Sales maximum.

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Definitions:

Economic Life

The estimated period over which an asset is expected to be economically usable, both for its original purpose or for other purposes.

Bargain Purchase Option

An option in a lease agreement that allows the lessee to purchase the leased asset at the end of the lease term at a price significantly lower than the expected fair market value.

Lease Term

The fixed, non-cancellable period of time for which a lease is agreed upon between the lessee and the lessor.

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting.