Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

One reason franchises have become so popular is that this arrangement provides the franchisee with:

an established brand and proven business model

ownership of the franchisor's entire company

guaranteed profits regardless of market conditions

complete independence from the franchisor's rules

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Verified step by step guidance

Understand the concept of a franchise: A franchise is a business arrangement where the franchisee (individual or entity) is granted the right to operate a business using the franchisor's established brand, trademarks, and business model.

Analyze the benefits of franchising: Franchising provides the franchisee with access to an established brand, proven business model, training, and support from the franchisor, which reduces the risks associated with starting a new business.

Evaluate the options provided in the question: Ownership of the franchisor's entire company is not part of a franchise agreement. Guaranteed profits regardless of market conditions are unrealistic, as business success depends on various factors. Complete independence from the franchisor's rules contradicts the nature of franchising, which requires adherence to the franchisor's guidelines.

Focus on the correct answer: The key benefit of franchising is the access to an established brand and proven business model, which helps the franchisee operate the business more effectively and with reduced risk.

Conclude the reasoning: Based on the analysis, the correct answer is 'an established brand and proven business model,' as this aligns with the primary advantage of franchising.