In A(n) __________ System an Individual or Firm Contracts with a Parent

question 120

Multiple Choice

In a(n) __________ system an individual or firm contracts with a parent company to set up a business or retail outlet.

• A)administered system
• B)franchise system
• C)vertically integrated chain
• D)retail-sponsored cooperative
• E)corporate system

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Definitions:

New Partners

Individuals who join an existing partnership, bringing in new capital or skills, and thus altering the partnership structure and possibly its strategic direction.

Majority Vote

A voting outcome where more than half of the votes cast are in favor of a proposal or candidate, leading to its approval or election.

Admission of New Partners

The process of integrating a new individual or entity as a partner into an existing partnership, subject to the partnership agreement and applicable laws.

Share of the Profits

The portion of a company's profits allocated to each share of stock, or to an individual or entity as part of an agreement.