The salespeople at Manitoba Supplies, Inc., spend most of their time filling out information reports, calling on small customers, and dispensing product information. Because of these required activities, Manitoba should compensate its sales force using which of the following?
a. a straight commission system
b. a straight salary system
c. a percentage of sales plan
d. a combination pay plan
Ans: b. a straight salary system
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Refer to the following adjusted trial balance
Accounts Debit Credit Cash $15,500 Accounts Receivable 8,400 Office Supplies 900 Equipment 9,400 Accumulated Depreciation- Equipment $3,000 Accounts Payable 1,800 Salaries Payable 700 Unearned Revenue 550 Common Stock 3,900 Dividends 1,000 Service Revenue 52,050 Salaries Expense 23,000 Supplies Expense 2,200 Depreciation Expense- Equipment 1,600 Total $62,000 $62,000 What will the final ending balance in the Retained Earnings account be after posting the closing entries? A) $24,250 B) $25,250 C) $29,150 D) $26,250
Sales staff executives are commonly used to:
A. Recruit new salespeople B. Analyze sales trends and make forecasts C. Train new salespeople D. Collect and gather environmental information which line managers may need for decision making E. Do all of the above