H&R Block,Midas Muffler,and Subway Are All Examples Of

question 40

Multiple Choice

H&R Block,Midas Muffler,and Subway are all examples of:

• A) product and trade name franchisees
• B) redistributor franchisers
• C) business format franchisees
• D) licensed franchisers
• E) relationship franchisees

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Definitions:

Planning Budget

A budget prepared before the period begins, based on projected levels of activity; acts as a guideline for income, expenses, and financial goals.

Spending Variance

A measure indicating the disparity between what was anticipated to be spent and what was actually expended in financial terms.

Employee Salaries

The monetary compensation paid to employees for their labor, typically on a monthly or yearly basis.

Net Operating Income

The total profit of a company after operating expenses are subtracted from gross profit, but before income taxes and interest are deducted.