Financial Accounting: Sales, Marketing And Customer Service Quiz!

Making periodic, perpetual, and annual stocktaking involves counting and verifying the physical inventory of a company. This process helps in monitoring stock control by ensuring that the actual stock levels match the recorded quantities. It allows businesses to identify any discrepancies, such as theft or inventory shrinkage, and take corrective actions. By regularly monitoring stock control through stocktaking, companies can maintain accurate inventory records, prevent stockouts or overstocks, and make informed decisions regarding purchasing and production. Therefore, the given answer "monitoring stock control" is the most appropriate explanation for the activities mentioned.

The correct answer is maintaining sales records. A sales clerk who enters bar code information and prices of items in the computer database is responsible for maintaining accurate records of sales transactions. This includes recording the details of each sale, such as the item purchased, its price, and any applicable discounts or promotions. By keeping these records up to date, the sales clerk helps the company track sales performance, inventory levels, and customer preferences, which can inform future business decisions. Filing sales records or engaging in promotional activities are not directly related to the task of entering bar code information and prices in the computer database.

The responsibilities of a sales clerk include sticking bar code labels on products (I), discussing customer's complaints with factory/stores or dispatch/shipping department (II), and issuing receipts to customers (IV). These tasks are commonly performed by sales clerks in order to ensure efficient and effective customer service. Defending the firm against unjustified complaints (III) is not explicitly mentioned as a responsibility of a sales clerk, therefore it is not included in the correct answer.

The correct answer is "monitoring of stock" because one of the functions of a Sales Office is to keep track of the inventory levels. This involves regularly checking and updating the stock records to ensure that there is enough stock available to meet customer demands. Monitoring stock helps in avoiding stockouts and overstocking situations, which can impact sales and customer satisfaction. Additionally, it enables the sales team to provide accurate information to customers regarding product availability and delivery timelines.

The duties of a sales clerk include preparing and distributing sales documents, filing sales documents and correspondence, and maintaining a list of suppliers. Preparing advertisements and price lists/catalogues is not listed as a duty of a sales clerk. Therefore, the correct answer is I, II, and III only.