Examlex
There are two general types of franchises:
Liabilities
Financial obligations or debts owed by a business to another entity, payable in money, goods, or services.
Notes Payable
Refers to promissory notes a company issues, promising to pay a specific amount of money at a future date.
Salaries
Regular payments made to employees for their services, often expressed as an annual amount but payable in smaller increments such as monthly or biweekly.
Accounts Payable
Obligations owed by a company to suppliers or creditors for goods and services received but not yet paid for.
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