# CTE Resource Center - Verso - Introduction to Marketing Task 1892583427

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Process payment for a cash purchase.

Definition

Demonstration of the ability to process payments should include
  • estimating change
  • counting change forward
  • computing discounts
  • computing sales tax
  • scanning smartphone codes
  • giving receipt.

Process/Skill Questions

  • What is the process for estimating change? Why is it important to be able to estimate change?
  • Why is effectively processing payments important to customer relations? To security?
  • Why is it important for an employee to be able to troubleshoot when processing payments?
  • How are discounts computed? Why is it important to know this?
  • What is sales tax? Who pays it?
  • How is collecting sales tax in a brick-and-mortar business different from collecting sales tax in an Internet business?
  • How can a company improve the payment process with the implementation of an app?

Other Related Standards

National MBAResearch Standards-Marketing

Understand sales processes and techniques to enhance customer relationships and to increase the likelihood of making sales.