The balance of the income summary account of a corporation is transferred to which of the following accounts?

The manager of a cost center is responsible for controlling costs and generating revenues for the company

Indicate whether the statement is true or false

A disadvantage of personal selling is a high turnover rate. The turnover rate refers to which of the following?

A) the rate at which prospects are turned into qualified prospects B) the rate at which qualified prospects are turned into customers C) the percentage of customers who stop doing business with a company in a given year D) the percentage of a sales force that leaves a company in a given year E) the percentage of a sales force that moves into management positions in a given year