What are some of the key characteristics of a professional letter, such as an introductory letter by which a company seeks to attract clients and initiate a business relationship with owner firms? Focus your discussion on the characteristics that primarily define the letter content. Apart from effective communication with potential customers, what do you think

Question 1

Provide responses to the following questions:

Explain why the accounts receivable turnover ratio is helpful in evaluating the liquidity of a company?

Why is the amount reported on the balance sheet for receivables usually not the same as the sum of the amounts that customers have promised to pay? (hint: Explain bad debt expense / ADFA)

Communication

Wholesome and Happy Foods is a farm-to-family grocery store located in the Pacific Northwest. The company recently installed four self-checkout lanes that allow customers to scan their own groceries and pay for their purchases using an automated checkout kiosk. The kiosks are monitored by a single attendant. In recent weeks, management has become concerned that some customers are not scanning all of the items that they bring through the self-checkout lanes.

Discuss your thoughts of the above, suggesting features and capabilities for the kiosks that would serve as control procedures, ensuring that all items brought through the self-checkout lanes are properly scanned and purchased. Further, do you think that the company will incur losses from people, who don't choose to scan one or two items here and there? Can the attendant even tell? Does management have a valid concern? How would they be able to tell that items have been stolen in this manner?

X Company was created on September 1 and prepares monthly financial statements. During September, X Company issued stock to investors for $98,000, borrowed $83,000 from a bank, bought merchandise that it planned to sell, paying $3,416 and promising to pay $5,166 in October, bought equipment, paying $5,100 and promising to pay $4,800 in December, paid $3,603 that it had promised to pay to suppliers for previous purchases on account, sold merchandise, receiving cash of $16,879 and promises to pay from customers of $4,881; the merchandise that was sold had cost $10,880, paid off a loan for $3,370 [ignore interest], received $3,727 from customers who had promised to pay, paid $5,470 for wages, utilties, and other miscellaneous expenses. 4. What were total assets on September 30 [assume no adjusting entries on September 30]? Tries 0/2 5. What was Net Income in September [assume no adjusting entries on September 30]?

The Cold Zone is a small manufacturer of refrigerated food cases for grocery stores serving a regional area in the Northeast of the United States. Presently, their product lines consists refrigerated cases for the deli department and the fresh meat departments.
They would like to add 2 new products to their company in order to grow their business and add new customers but they aren't sure what to do or where to begin.

You are a consultant who has been hired to make a recommendation on the new products and the corresponding new customers.

Your task:

• Conduct research on the grocery and refrigerated case industry to learn background on both areas and research potential areas of growth.

Make a proposal to The Cold Zone, Your proposal should include the following:

• Summary of your research about the grocery industry and potential areas of growth.
• Your 2 product recommendations and why you determined these are the best options.
• Explain how these 2 new products will help the company achieve growth.

Continual prospecting is primarily important to:

A bonus is a type of incentive given to the sales force that is most likely to result in a potential performance outcome of:

Which of the following is true of sales quotas?

The second step in the prospecting process of customers involves _____.

e. Calculate Real GDP for 2007 and 2008 using the chain-weighted method.

f. Calculate the GDP deflator and inflation using Real GDP from part e.

During the period 1990–1998 there were 50 Atlantic hurricanes, of which 22 struck the United States. During the period 1999–2006 there were 75 hurricanes, of which 53 struck the United States.

• At α = 0.10, do the data support the hypothesis that the proportion of hurricanes that strike the United States is increasing? Follow and show the 7 steps for hypothesis testing.
• What assumption is required for this test? Show if the assumption is valid.  
• Verify with Minitab, by attaching or including the output.