Franchising Is a Form of Licensing

question 63

True/False

Franchising is a form of licensing.

---

Definitions:

Machine-Hours

A measure of production or work time, quantifying the number of hours a machine is operated in the production of goods.

Machining Department

A division within a manufacturing facility where machining processes such as cutting, shaping, or finishing materials into final products occur.

Customizing Department

A specialized division within a company that modifies products to meet specific customer requirements or preferences.

Predetermined Overhead Rate

A calculated rate intended for the allocation of manufacturing overhead to products, based on a specific activity or cost driver.