________ Is an Arrangement Whereby Someone with a Good Idea

question 80

Multiple Choice

________ is an arrangement whereby someone with a good idea for a business sells the rights to use the business name and sell the parent company's product or service to others in a given territory in a specified manner.

• A) Franchising
• B) Contract manufacturing
• C) Import trading
• D) Export trading

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Definitions:

Accounting System

The methods, procedures, and software used by an organization to track financial transactions and produce financial statements.

Financial Statements

Financial statements are formal records of the financial activities and position of a business, individual, or other entity, providing an overview of a financial performance and condition.

SatNav Processes

Procedures employed by satellite navigation systems to determine a position and guide a user to a destination.

QBO Transactions

Financial activities recorded in QuickBooks Online, a popular cloud-based accounting software.