The Use of Prototype Stores,detailed Operating Procedures,and the Inspection of Store

question 30

Multiple Choice

The use of prototype stores,detailed operating procedures,and the inspection of store units by chain retailers and franchisors is used to _____.

• A)develop and maintain a consistent image
• B)reduce operating costs
• C)reduce construction costs
• D)reduce construction time and start-up costs

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Definitions:

General Journal

A bookkeeping ledger that records each financial transaction of a company in chronological order.

Net Income

The total earnings of a company after subtracting all expenses and taxes from total revenue; often referred to as the bottom line.

Revenue and Expense Account Balances

The amounts recorded in accounts tracking the income earned and expenses incurred by a business over a period of time.

Owner's Capital Account

An equity account on the balance sheet representing the owner's investment and retained earnings in the business.