Which of the Following Pieces of Information Is Required to Be

question 13

Multiple Choice

Which of the following pieces of information is required to be disclosed under the Uniform Franchise Offering Circular (UFOC) ?

• A) the list of competitors within the same industry
• B) the material terms of the franchise agreement
• C) the age of all owners of the trademark
• D) the nationality of all the employees of the franchise

Comprehend the principles of cash and accrual basis of accounting.

Recognize the purpose and principles of adjusting entries in accounting.

Grasp the impact of timing on revenue and expense recognition and its effect on financial statements.

Identify the principles of revenue recognition and expense matching.

---

Definitions:

Factory Equipment

Assets such as machinery and tools used in the manufacturing process to produce goods and services.