In-Home Maid Service Company Uses a Web Site to Provide

question 40

Multiple Choice

In-Home Maid Service Company uses a Web site to provide downloadable information to prospective franchises. This online information is the equivalent of an offer that must comply with

• A) the Automobile Dealers' Franchise Act of 1965.
• B) no law.
• C) the Federal Trade Commission's Franchise Rule.
• D) the state Franchise Disclosure Document, or FDD.

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Definitions:

360-Day Year

A simplified method of calculating interest using a 360-day year instead of 365 days, commonly used in banking.

Exact Simple Interest

Refers to interest calculated precisely on the principal amount of a loan or investment, without compounding, over a specific time period.

365-Day Year

A method of interest calculation that uses a full calendar year to determine the amount due.

Loan Period

The duration of time from the initiation to the full repayment of a loan.