Franchises - Study guides, Class notes & Summaries

NATEF certifies automotive: A dealerships. B independent garages. C technicians. D training programs. - Answer-D All of these are ASE certifications except: A automatic transmission/transaxle. B engine repair. C service and maintenance. D suspension and steering. - Answer-C Which part is most likely the problem if a light does not come on during an instrument panel bulb check? A bulb B fuse C sender D switch - Answer-A What organization certifies automotive technicians? A ASE B ...

During the _____ step of the selling process, the salesperson tells the "product story" to the buyer, highlighting customer benefits. A. Prospecting B. Presentation C. Qualifying D. Follow-up - B. Presentation You see mcdonalds, subway, jiffy lube, and holiday inn everywhere. these stores are examples of contractual associations, aka: A. factory outlet stores B. wholesale clubs C. corporate chains D. franchises - D. franchises A & are best described as __ that sell products & serv...

Accounting - -gather -organize -analyze -report Accounting cycle - -bookkeeping -journal -ledger -trial balance Accounting's Stakeholders - -management -marketing -investors -creditors -government Acquisition - when one company takes over another Advantages of a corporation - -limited liability -ability to raise funds -transfer of ownership -longevity -attracting human capital Advantages of Franchises - -established brand name -support from franchisor-access to capital -nat...

Test Bank for Business Law: Text and Cases, 16e 16th Edition by Kenneth W. Clarkson, Roger LeRoy Miller. Full Chapters test bank are included with answers (Chapter 1 to 51) UNIT I: THE LEGAL ENVIRONMENT OF BUSINESS. 1. Law and Legal Reasoning. 2. Business and the Constitution. 3. Ethics in Business. 4. Courts and Alternative Dispute Resolution. 5. Court Procedures. UNIT II: TORTS AND CRIMES. 6. Tort Law. 7. Strict Liability and Product Liability. 8. Intellectual Property Rights. 9. ...

sole proprietorship - business owned and operated by one person unlimited liability - legal exposure in which an owner of a business is personally liable for all of the debts and obligations of the business what is the most popular form of business organization in the US? - sole proprietorship sole proprietorship advantages - -easily established -no partners or shareholders -only pay taxes on income generated -all after tax profit stays with the owner -minimal government regulation sole...

A local business is looking to become a franchise. The company wants to predict the number of franchises, F, given a certain number of years, Y. This prediction is modeled by the function F( Y). What can be concluded by F(5) = 10? In 5 years, there will be 10 open stores. A bank begins a marketing campaign to increase its number of customers. Each month, all new customers are put into a drawing. One customer then receives a $50 credit in a checking account.The amount of money given away in the...

BLAW 3391 TTU Exam 2 Questions And Answers (Verified And Updated) Sole Proprietorship Simplest business form; owner is the business. Owner reports business income on personal income tax return and is legally responsible for all debts and obligations incurred by the business. 2/3 of all U.S. businesses are formed in this way. Sole Proprietorship Advantages •Owner receives all profits; pays only personal taxes •Easy to create; less costly •Flexible decision making Sole Proprie...

BLAW 3391 Pleasant Exam 2 Questions With Verified Answers One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management - answerEntrepreneur The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. - answerSole Proprietorship You can establish without filing any legal do...

Entrepreneur - Answer-One who initiates and assumes the financial risk of a new business enterprise and undertakes to provide or control its management Sole Proprietorship - Answer-The simplest form of business organization, in which the owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business. Sole Proprietorship in TX - Answer-You can establish without filing any legal documents. 1) choose a B...

Types of Retail Ownership - Answer 1) Independents - One store, one owner. Usually they are trying to satisfy a very specialized market or locale. Example: Family owned corner stores, Boutique store that is run by the owner 2) Chains - Multiple stores/facilities, one owner/company. Example: Home Depot, Wal-Mart, Costco, Gap, Macy's, Safeway (A probably best fits this category) 3) Franchises - A franchisor owns the rights to a company and the name. A franchisee is allowed to open an outlet...