Franchising Is More Comprehensive Than Licensing Because the Franchisor Prescribes

question 93

True/False

Franchising is more comprehensive than licensing because the franchisor prescribes virtually all of the business activities of the franchisee.

---

Definitions:

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including material and labor expenses.

Time Ticket

A document that indicates the employee, the hours worked, the account and job to be charged, and the total labor cost.

Personal Exemptions

Deductions allowed on individual income tax returns, reducing the amount of income subject to taxation, based on the taxpayer and dependents.

Job Number

An unique identifier assigned to a specific job or project for tracking costs, progress, and billing.