Which of the Following Is True of Franchising

question 12

Multiple Choice

Which of the following is true of franchising?

• A) It is similar to exporting.
• B) It is commonly employed by manufacturing firms.
• C) A franchisee agrees to abide by strict operating procedures.
• D) It involves short-term commitments.

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Definitions:

Purchases Discount

A reduction in the price paid for goods, given for early payment according to the terms of purchase.

Voucher Register

A record-keeping system that logs all vouchers issued and paid by a business, detailing payments to suppliers and services.

Date Of Payment

The date the dividend is paid.

Purchases Credit

A transaction type where goods or services are bought on account, with payment to be made at a future date, usually within an agreed period.