What document intiates the sales process

Q: Define sales journal.

A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…

Q: Journal entry for sales

A: The journal entry is prepared to record the monetary transactions of the company in the boooks.

Q: Interanational Business Class Q:How to analyze demand and customers?

A: Supply and demand are the relationship between the quantity of a product that producers want to sell…

Q: What are some tactical and strategic retail customer considerations?

A: Strategic management or business management is the science, art, and craft of preparing,…

Q: The general ledger clerk receives summary data from which departments?what form of summary data?

A:

Q: Trace the development of the marketing concept and how it is implemented.

A: Marketing concept is defined as the preoccupied along with an idea of the satisfying the requirement…

Q: why service industry providing service and retail industry dealing in transfer and exchange goods?

A: Service Industry:-As the name suggests, it is the industry which deals in services only, although it…

Q: How to find sales under LIFO

A: LIFO stands for last in first out. It represents that the units that are purchased last would be…

Q: What document initiates the sales process?

A:

Q: What inventory systems do you know are used in a buying and selling business?

A: The inventory systems popularly used are the  1) Perpetual inventory system  2) Periodic inventory…

Q: Subsidiary ledgers in merchandising business?

A: A subsidiary ledger is a subset to the general ledger and it contains the details to support a…

Q: Required Prepare the SALES JOURNAL Prepare the PURCHASES JOURNAL

A: A journal is a record that records every one of the monetary exchanges of a business, to be utilized…

Q: Describe the Issues Pertaining to the Retail Method.

A: Retail inventory method is used to calculate the value of ending inventory by comparing the retail…

Q: describe the factors that drive sales and revenue: Income Advertising Preferences Pricing

A: Income : Income is the money received by a person or a company in exchange for labour, the…

Q: Customer sales should only be recorded usin

A: Customer sales should only be recorded using Sales Receipts or Invoices .

Q: Explain the posting process of the sales journal?

A: Sales JournalThe Sales Journal is used to record the transaction when the sale of merchandise…

Q: Define purchases Journal.

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…

Q: (A) Explain the fundamental purpose of the sales and collection process. (B) Differentiate between a…

A: The process of sales and collection is officially known as Sales and Collection Cycle and RRR…

Q: Explain an example how to record sales revenue.

A: Sales revenue is the revenue from the sales generated by the company. The sales may be either cash…

Q: In value chain analysis, what is the activity of arranging the delivery of products to customers…

A: Value chain analysis is an analysis that is done in business in order to evaluate value added…

Q: Are purchasing and receiving functions separate from invoiceprocessing, accounts payable, and…

A: Invoice processing: It is a procedure to maintain the invoices of the organisation to ensure timely…

Q: Describe post sales service arrangements the firm does or should provide

A: After sale services help the companies achieve customer satisfaction and retain their customers.…

Q: Discuss the objects of the cut off on the sales and collection cycle.

A: The cash collection cycle is the number of days it takes to recover accounts receivable. The…

Q: Provide one example of a transaction that affect  service business and  merchandise business.

A: Business refers to all those organization or company who engaged in any type of industrial,…

Q: The GAAP is an acronym that represents which of the following?Choose one answer.a. Principles for…

A: GAAP refers to as the Generally Accepted Accounting Principles.

Q: Discuss the Supplier Integration and Relationship Management

A: Supplier is the person from which a firm procures its inventory and raw-material. A manufacturing…

Q: What is an inventory manager?

A: Inventory Management: It refers to the process of managing the Inventory or stock of raw materials,…

Q: What is purpose of sales journals?

A: Sales journal: It is one form of special journal book, which records all the sales transactions that…

Q: How does the procedure for determining inventory requirements differ between a basic…

A: Batch processing system: A technique that is used to collect the data and program together in a…

Q: Define the term Retail Terminology.

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Classify which area in the organization these functions belong: Finance, Accounting, Marketing,…

A: Various department of the company does various function for example production department is related…

Q: By using FIFO method: Post Journal entries for Sales and CGS?

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: What is Sales Mix and why is it used in retail operations?

A: Sales mix is the proportion of each product sold by a company as a percentage of its total sales.…

Q: Explain the importance of inventory management system.

A: Inventory management system refers to managing and tracking inventory.

Q: Briefly explain the accounting treatment for sales returns.

A:

Q: Which of the following information items with regard to a major customer must be disclosed?a. The…

A:

Q: What is just-in-time (JIT) inventory system?

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: is the delivery of products or services to customers. O a. Distribution O b. Customer service O c.…

A: Lets understand all the terms mention in the question to determine right answer. There are various…

Q: Which of the following information items with regard to a major customer must be disclosed? a. The…

A: According to the disclosures requirements , if a company is making sales to major customer , then…

Q: Service marketing

A: Service marketing: Service marketing is defined as the application of a various combinations of…

Q: Answe these questions in relation to accounting packages systems

A: Here discuss about the details of the sage Pastel software for the Accounting and uses to kept…

Q: Explain the purpose of sales journal.

A: Journals are prepared by the company to record the monetary transactions of the company.

Management Information Systems

While undertaking any business decisions, data is the most important aspect. An information system (IS) is a set of data, computing devices and management methods that support routine company operations. A management information system (MIS) is a specific subset of IS.