Which of the Following Is NOT a Franchise Operation

question 81

Multiple Choice

Which of the following is NOT a franchise operation?

• A) Subway (food).
• B) H and R Block (tax work).
• C) Kinko's (copy center).
• D) 7-Eleven (convenience store).
• E) All of these are franchise operations.

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Definitions:

Owner's Capital

The amount of equity belonging to the owner of a business, reflecting investments and accumulated earnings.

Income Summary

An accounting tool used to aggregate all income and expense accounts to determine net income or loss for a period.

Revenue

Income that a company receives from its normal business activities, usually from the sale of goods and services to customers.

Closing Entries

Closing entries are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.