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9. Cash terms

Read the definitions below, then complete the phrases that follow by combining an appropriate word from the box with cash.

advance

budget

delivery

flow

hard

petty

price

ready

settlement

1.

Small amounts of money in notes and coins for regular, small purchases.

petty cash

2.

Money in notes and coins, not cheques or credit card transfers.

__________ cash

3.

Cash which comes in to a company from sales, after costs, overheads, etc.

cash _________

4.

Payment when the customer receives the goods.

cash on ________

5.

Plan of cash income and expenditure.

cash __________

6.

A loan in cash against a future payment.

cash __________

7.

Notes and coins available for immediate expenditure.

__________ cash

8.

Payment of a bill with cash.

cash __________

9.

A low price for payment in cash.

cash __________

10. Sales forecasting

Sales forecasting is based on a variety of estimates, depending on the product or service concerned and the market involved.

A Below is part of a report by Michelle Cardot, the Marketing Manager of Fastrail Ltd, an urban transport system operator. Put the five parts of the report in the correct order.

1. The sales forecaster interviews sales staff, sales managers and senior management. Talking with experts and analyzing figures from previous years helps to show trends, the relationship between price and demand, and any seasonal variations. The forecaster also considers the effects of advertising, or changes in the market. For example, if new competition arrives or old competitors disappear.

2. 4.2 Sales forecasting

Sales forecasting is an attempt to estimate the level of regular business. It includes existing contracts, the typical volume of sales to regular customers, typical volume of non-regular business and an estimate of the volume of new business.

3. Sales volume will be affected by the effectiveness of advertising and other promotional activities, the quality of the sales force, past sales volume and any seasonal influences.

4. Pricing policy is affected by market conditions, competition, economic climate, industrial conditions and organizational cost structure.

5. Factors affecting sales forecasting include pricing policy and sales volume.

B Here is a memo based on the same report. Put the sections of the memo into the correct order.

1. Factors affecting pricing policy: market conditions, competition, economic climate, industrial conditions and organizational cost structure.

2. Forecasting uses personal interviews with both staff and management and also analysis of past sales figures. The relationship between price and demand can also be significant.

At all times, forecasts can be adjusted, depending on changes.

3. Factors affecting sales volume: advertising, promotional activities, quality of sales force, past sales volume and seasonal variation.

4.

Fastrail Ltd

REPORT

From: Michelle Cardot – Marketing Director

To: JT, DS, HR, PD, PV

Date: 22 October 2002

Subject: Sales forecasting

Sales forecasting estimates the level of future business, combining volume of sales to regular customers with non-regular business and probable demand from new business.

5. Factors affecting sales forecasting: pricing policy and sales volume.

Notice the format for writing dates: 22nd October 2002 or 22 October 2002. However, when speaking, we say: the 22nd of October. In American English the month usually comes before the day, e.g. October 22, 2002.