Franchises Are Often Quite _____

question 67

Multiple Choice

Franchises are often quite _____.

• A)legally simple
• B)easily acquired
• C)attractive from a tax standpoint
• D)expensive

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Definitions:

Accumulated Depreciation

The aggregate sum of depreciation costs accounted for a fixed asset since its inception of use.

Equipment Account

A financial account that tracks the acquisition cost and depreciation of a company's equipment.

Ordinary Repairs

Routine maintenance and repair costs that are expensed in the period incurred to keep an asset in its normal operating condition.

Physically Extracted

The process of removing materials or resources from the natural environment through manual or mechanical means.