Which of the following statements is true of a typical franchise agreement?
A. It is given to the franchisee 14 days before the Franchise Disclosure Document is prepared.
B. It includes the standards established by the franchisee.
C. It is a long, complex document, covering 23 separate major topics and sometimes running well over 100 pages.
D. It requires the franchisee to pay an initial fee.
Answer: D
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Domino Company ages its accounts receivable to estimate uncollectible accounts expense. Domino began Year 2 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $76,500 and $5,800, respectively. During Year 2, the company wrote off $4,640 in uncollectible accounts. In preparation for the company's estimate of uncollectible accounts expense for Year 2, Domino prepared the following aging schedule:Number of DaysPast DueReceivablesAmount% Likely to beUncollectibleCurrent $104,000 1% 0-30 45,000 5% 31-60 9,920 10% 61-90 4,440 25% Over 90 3,800 50% Total $167,160 What amount will be reported as uncollectible accounts expense on the Year 2 income statement?
A. $1,512 B. $6,132 C. $4,640 D. $7,292
The Excel function =RAND() generates random numbers that are:
A) greater than 0 B) less than 1 C) between 0 and 0.9999 D) between -1 and 1 E) greater than 1
Which of the following statements is true regarding the value-added chain of distribution channels?
A) The value-added chain of distribution channels begins with the customer.
B) Distribution channels establish a connection between the firm and the customers.
C) One of the components of the value-added chain of distribution channels is the government.
D) Distribution channels connect suppliers to the firm
If a bank pays on a check after the death of its customer, the customer's estate is not automatically entitled to reimbursement
Indicate whether the statement is true or false