Under the completed-contract method, companies recognize revenue and costs only when the contract is completed.

If a purchaser using a periodic inventory system pays the transportation costs, then the

a. Merchandise Inventory account is increased. b. Merchandise Inventory account is not affected. c. Freight-in account is increased. d. Delivery Expense account is increased.

Even if a prospect who does not buy from Ahmed now, Ahmed should most likely:

A) delete the prospect's record B) mark the prospect's file "Sale Lost" C) ask another sales representative at the firm to approach the prospect D) call the prospect every week until the prospect buys the insurance E) continue to make contact once a year with the prospect