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V125BC [204]
3 years ago
15

In personal selling, the relationship must continue for a long time, as the salesperson responds to new requests for information

from current customers. This is an important part of the ______ step in personal selling.
Business
1 answer:
Ierofanga [76]3 years ago
4 0

Answer:

Presentation

Explanation:

There are six steps in making a successful sale. The first step is prospecting and Qualifying and the last one is following up on the sale.

Personal selling is the sale in which the seller makes a face to face presentation to the customer. Sales jobs range from the salespeople at the clothing stores to the engineers with MBA's who design complex systems for the manufacturers. The importance of personal selling is that it provides a detailed explanation of the product and the sales message can be varied as per the interests of the prospective customer. The size of the personal sales force can be varied as per the needs. In the above question, the salesperson responds to new requests of the customer, which is an important part of personal selling.

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The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: Beginni
melamori03 [73]

Answer:

City of Buffalo Falls

a. Journal Entries:

Beginning balances:

Jan.1, 2020 :

Description                 Debit                Credit

Cash                        $93,000

Taxes Receivable  $189,500

Accounts Payable                              $52,250

Fund Balance                                   $230,250

To record opening balances of the General Fund.

Transactions during the year:

Description                 Debit                Credit

Taxes Receivable      $1,230,000

Estimated Revenue                         $1,230,000

To record the estimated revenue for the year.

General Government  $1,227,400

Accounts Payable                            $1,227,400

To record the estimated appropriations for the year.

Property taxes receivable $915,000

Other revenue receivable $315,000

Estimated revenue                              $1,230,000

Cash Account                  $1,182,500

Property taxes receivable                     $885,000

Other revenue receivable                    $297,500

To record the cash receipts.

Contracts                                  $95,250

Accounts Payable                                      $95,250

To record contracts for services.

Debit General Government  $963,500

Credit Accounts Payable                        $963,500

To record the other expenditures.

Debit Accounts Payable      $1,092,500

Credit Cash Account                              $1,092,500

To record payment on account.

b. Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund:

Estimated Revenue   $1,230,000

less Expenditure:

Contracts                          95,250

Other expenditures       963,500

Change in fund             $171,250

Fund balance b/f           230,250

Fund balance c/f          $401,500

c. Balance Sheet for the General Fund:

Cash                              $183,000

Taxes Receivable           237,000

Total assets                 $420,000

Accounts Payable            $18,750

Fund balance                  401,500

Total liabilities + Fund $420,250

Explanation:

a) Cash Account:

Beginning balance            $93,000

Property taxes                   885,000

Other revenue                  297,500

less Accounts payable   1,092,500

Ending balance               $183,000

b) Taxes Receivable

Beginning balance           $189,500

Estimated Revenue        1,230,000

less Receipts:

Property taxes                  885,000

Other revenue                 297,500

Ending balance             $237,000

c) Accounts Payable

Beginning balance        $52,500

Other expenditure        963,500

Contracts                        95,250

Less payments           1,092,500

Ending balance              $18,750

4 0
3 years ago
PRO FORMA INCOME STATEMENT Austin Grocers recently reported the following 2016 income statement (in millions of dollars): Sales
padilas [110]

Answer:

Net income = $169.2

Growth in dividend = 76.25%

Explanation:

The projected figures are as below:

Sales = $700 x (1 + 15%) = $805 <em>(15% increase in sales)</em>

Operating costs including depreciation = $805 x 60% = $483 <em>(60% of sales)</em>

Interest expense = 40 <em>(remain constant)</em>

EBIT = Sales - Operating costs including depreciation = $805 - $483 = $322

EBT = EBIT - Interest expense = $322 - $40 = $282

Net income = EBT x (1 - Tax rate) = $282 x (1 - 40$) = $169.2

Dividend = Net income x Dividend payout ratio = $169.2 x (32/96) = $56.4

Growth in dividend = $56.4/$32 = 76.25%

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4 0
3 years ago
In each of the following cases, determine how much GDP and each of its components is affected, if at all:
Elanso [62]

Answer:

Follows are the solution to this question:

Explanation:

In option A, Its increase in consumption and GDP is $200.

In option B, Investment decisions increase about $1800, net exports drop by $1800 and therefore GDP should remain constant.

In option C, GDP or investment wasn’t increasing only at present because estimates were produced last year.

In option D, Market growth is $470 million, options trading is rising by $30 million but GDP is growing by $500 million.

GDP is just a misleading indicator, it does not take into account recreation, environmental protection, education and health rates, non-market behaviors, changes in wealth disparity, increases of variety or rises in innovation. HDI's social progress Index could be used to highlight a need for people or their ability to assess national growth as the supreme requirement.

5 0
3 years ago
Choose the only point on the graph that shows the equilibrium wage
a_sh-v [17]

We would need to see the graph, but the equilibrium point is where the wage paid is equal to the supply of workers. On a graph, this would be the point where the two lines intersect. That is the point where the supply of people willing to do the job at a certain rate, meets the company's demand for workers and the rate they are willing to pay.

4 0
3 years ago
This activity is important because as a manager, you should know how compensation methods are related to motivation theories. Co
kompoz [17]

Answer:

A. Merit Pay - 2. Equity Theory

B. Gain sharing 3. Goal-setting Theory: Unit-Focused

C. Piece-Rate Systems 4. Goal-setting Theory: Individual-Focused

D. Recognition Awards 1. Expectancy Theory Instrumentality

E. Lump-Sum Bonuses 5. Extrinsic Motivation

Explanation:

Employee motivation is dependent on many factors. A person may be motivated just if his work is appreciated. He feels that his work is appreciated and for this reason he is motivated to perform better. Some people consider pay rise or monetary rewards as their motivation factor. Some people finds more authority as their motivating factor. They feel motivated if they are given more challenging work and more authority.

8 0
3 years ago
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