​A(n)_____ Refers to the Originator of a Trade Name,product,methods of Operation,and

question 11

Multiple Choice

​A(n) _____ refers to the originator of a trade name,product,methods of operation,and the like that grants operating rights to another party to sell its product.

• A)retailer
• B)​franchisor
• C)​consumer
• D)investor

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Definitions:

Sales Variance Analysis

A financial process used to compare the actual sales against forecasted sales to understand variances and their causes.

Planning

The process of setting objectives, determining strategies to achieve them, and coordinating resources to execute the strategies.

Price Variance

The difference between the actual cost of a good or service and its budgeted or standard cost.

Standard Price

The pre-determined cost that a company expects to pay for goods and services.