Match the Term with Its Definition

question 71

Multiple Choice

Match the term with its definition.
-The party in a franchise contract that is granted a license to do business under a particular trademark and trade name by the franchisor

• A)franchise
• B)franchise contract
• C)Franchise Disclosure Document (FDD)
• D)franchisee
• E)Franchise Rule
• F)franchising
• G)franchisor
• H)multibrand franchising
• I)nondisclosure agreement
• J)piggyback franchising

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Definitions:

Mortgage Payable

A liability represented by a legal agreement granting a lender a lien on real estate property as security for the repayment of a loan.

Provisions

Liabilities of uncertain timing or amount, recognized on the financial statements for expected losses or expenses.

Defined Contribution Plans

A type of retirement plan where the employer, employee, or both make contributions on a regular basis, and future benefits depend on the investment's performance.

Employee Vacation Pay

Compensation owed to employees for the time they have accrued but not taken as vacation.