9 Questions
What is a commission?
A fee paid by a business to a salesperson for facilitating a sale
Who typically receives a commission?
The salesperson or agent
What does a commission represent?
A fee paid by the business to the salesperson for services in a sale
In what context is a commission paid?
For sales-related services
What type of commission is based on a percentage of sales only?
Straight Commission
Which type of commission involves a salesperson receiving both a basic salary and a percentage of the sales made?
Salary plus Commission
What does Gross Pay consist of?
Basic pay plus the amount of commission earned
What is the Sales Quota related to?
The amount or volume of sales figure required to earn commission or incentive
What does Downpayment refer to?
An initial payment made when something is bought on credit
Test your knowledge on commissions, the fees that businesses pay to salespeople or agents for their services in facilitating, supervising, or completing a sale.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
