________ Franchising Involves the Owner of an Existing Business Becoming

question 79

Multiple Choice

________ franchising involves the owner of an existing business becoming a franchisee to gain the advantage of name recognition.

• A)Product distribution
• B)Master franchise
• C)Conversion
• D)Pure

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Definitions:

Selling Price

Selling price is the amount of money for which a seller is willing to sell his or her product or service.

Sales Allowance

A reduction in the sale price granted by the seller to the buyer, often due to minor defects or because the buyer has returned part of the order.

Sales Returns

Transactions where customers return previously purchased merchandise for a refund, replacement, or credit toward future purchases.

Credit Sales

Sales made on credit, where the payment is received after the delivery of the goods or services.