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carefully. Mark “T” for statements you believe are true, and “F” for statements you believe are false. Write your answers in a separate sheet of paper. 1. If an employee only receives a percentage of the sales made with no additional compensation given then, he is receiving a straight co

carefully. Mark “T” for statements you believe are true, and “F” for statements you believe are false. Write your answers in a separate sheet of paper. 1. If an employee only receives a percentage of the sales made with no additional compensation given then, he is receiving a straight co

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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WEEKS 1-2/ 2nd Quarter

Activity 1. TRUE/ FALSE.
Directions: Read each statement below carefully. Mark “T” for statements you
believe are true, and “F” for statements you believe are false. Write your answers in
a separate sheet of paper.
1. If an employee only receives a percentage of the sales made with no additional
compensation given then, he is receiving a straight commission.
2. If an employee receives a guaranteed base salary amount and earn an undefined
amount of commission based on the number of sales he makes, then he is
receiving a graduated commission.
3. Salary plus commission is earned as a percentage of sales that as volume of sales
increases, the amount of commission also increases.
4. Current increased balance is the total amount you have to pay that includes
penalties or interest incurred by unpaid balance from a loan.
5. Down payment is given during the last payment of a purchased item.

Activity 1: TRUE OR FALSE onections: Read each statement below carefully, Write "T" if the statements are true, and "F" if the statements are false. Write your answers in a separate sheet of paper. Iran employee only receives a percentage of the sales made with no additional compensation given then, he is receiving a straight commission. 1. If an employee receives a guaranteed base salary amount and earn an undefined amount of commission based on the amount of sales he makes, then he is receiving a graduated commission. 2. 3. Salary plus commission is earned as a percentage of sales that as volume of sales increases, the amount of commission also increases. 4. The price of a house for sale is P5,000,000. The bank requires 15% down payment. If a buyer wants to buy the house, then he needs to pay P1,125,000 as down payment. 5. A car is valued at P2,000,000 and the required down payment is P500,000. The down payment in percentage form is 25%. 6. A salesperson is receiving a commission of 12% on all of his sales. If he was able sell goods amounting to P50,000, his total commission is P6,000? 7. A salesperson is paid in installment basis. Assuming that he was able to sell a total cost of P320,000 which will be paid in installments of P5,000 monthly with a commission of 5%. At the end of the payment term, he will be able to receive a total commission of P14,000. 8. Charlie is a sales engineer receiving a basic monthly compensation of P13,500 and 1% commission on all sales. He will receive P14,745.8 gross earnings for the month if he will be able to sell P124,580. 9. A golden bejeweled necklace was sold at P650,000 and will be paid in monthly installments of P65,000. If the salesperson gets a 3% monthly commission, then he will receive P1,950. Hazel receives 20% commission on the appliances she sells. If she sells a water heater for P1,500, a flat iron for P1,200 and a refrigerator for P20,000, then she'll receive P5,450 as a commission. 10.
Transcribed Image Text:Activity 1: TRUE OR FALSE onections: Read each statement below carefully, Write "T" if the statements are true, and "F" if the statements are false. Write your answers in a separate sheet of paper. Iran employee only receives a percentage of the sales made with no additional compensation given then, he is receiving a straight commission. 1. If an employee receives a guaranteed base salary amount and earn an undefined amount of commission based on the amount of sales he makes, then he is receiving a graduated commission. 2. 3. Salary plus commission is earned as a percentage of sales that as volume of sales increases, the amount of commission also increases. 4. The price of a house for sale is P5,000,000. The bank requires 15% down payment. If a buyer wants to buy the house, then he needs to pay P1,125,000 as down payment. 5. A car is valued at P2,000,000 and the required down payment is P500,000. The down payment in percentage form is 25%. 6. A salesperson is receiving a commission of 12% on all of his sales. If he was able sell goods amounting to P50,000, his total commission is P6,000? 7. A salesperson is paid in installment basis. Assuming that he was able to sell a total cost of P320,000 which will be paid in installments of P5,000 monthly with a commission of 5%. At the end of the payment term, he will be able to receive a total commission of P14,000. 8. Charlie is a sales engineer receiving a basic monthly compensation of P13,500 and 1% commission on all sales. He will receive P14,745.8 gross earnings for the month if he will be able to sell P124,580. 9. A golden bejeweled necklace was sold at P650,000 and will be paid in monthly installments of P65,000. If the salesperson gets a 3% monthly commission, then he will receive P1,950. Hazel receives 20% commission on the appliances she sells. If she sells a water heater for P1,500, a flat iron for P1,200 and a refrigerator for P20,000, then she'll receive P5,450 as a commission. 10.
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