Commission and Sales Fees Quiz
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Questions and Answers

What is a commission?

  • A fee paid by a salesperson to a business for facilitating a sale
  • A fee paid by the government to a business for facilitating a sale
  • A fee paid by a customer to a business for facilitating a sale
  • A fee paid by a business to a salesperson for facilitating a sale (correct)

    • Who typically receives a commission?

  • The government
  • The customer
  • The salesperson or agent (correct)
  • The business owner

    • What does a commission represent?

  • A fee paid by the business to the salesperson for services in a sale (correct)
  • A reward given by the business to the salesperson
  • A discount given by the salesperson to the customer
  • A payment made by the customer to the business

    • In what context is a commission paid?

    <p>For sales-related services</p> Signup and view all the answers

    What type of commission is based on a percentage of sales only?

    <p>Straight Commission</p> Signup and view all the answers

    Which type of commission involves a salesperson receiving both a basic salary and a percentage of the sales made?

    <p>Salary plus Commission</p> Signup and view all the answers

    What does Gross Pay consist of?

    <p>Basic pay plus the amount of commission earned</p> Signup and view all the answers

    What is the Sales Quota related to?

    <p>The amount or volume of sales figure required to earn commission or incentive</p> Signup and view all the answers

    What does Downpayment refer to?

    <p>An initial payment made when something is bought on credit</p> Signup and view all the answers

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