A Franchise Can Be Formed

question 188

Multiple Choice

A franchise can be formed:

• A)Only as a general partnership.
• B)Only as a corporation.
• C)As either a corporation or partnership,but not as a sole proprietorship.
• D)As a corporation,partnership or sole proprietorship.

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Definitions:

Trustee

A person or firm that holds and administers property or assets for the benefit of a third party under the terms of a trust agreement.

Chapter 7

A provision of the U.S. Bankruptcy Code that involves the liquidation of a debtor's assets to pay off creditors.

Debtors

Individuals or entities that owe money to another party, typically as a result of receiving a loan or credit.

Exemptions

Provisions that allow certain individuals or entities to be excused from observing a particular law or regulation.