Multiple Choice
Which of the following are two ways to update the chart of accounts to better suit the needs of a client?
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1. Introduction to Accounting
Types of Accounting
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Which of the following is NOT typically offered to a franchisee by a franchisor?
A
Exclusive rights to use the franchisor's accounting software
B
Ongoing training and support
C
Access to the franchisor's established brand name
D
Ownership of the franchisor's company assets
Verified step by step guidance1
Understand the concept of franchising: A franchise is a business model where the franchisor (the owner of the brand) grants the franchisee (the individual or entity operating the franchise) the rights to operate under the franchisor's established brand name and business system.
Review the typical offerings provided by a franchisor to a franchisee: These often include access to the franchisor's brand name, ongoing training and support, and sometimes exclusive rights to use proprietary tools or software.
Analyze the options provided in the question: Exclusive rights to use the franchisor's accounting software, ongoing training and support, and access to the franchisor's established brand name are all typical offerings in a franchise agreement.
Consider the option 'Ownership of the franchisor's company assets': Ownership of the franchisor's company assets is not typically offered to a franchisee, as the franchisor retains ownership of their assets and intellectual property.
Conclude that the correct answer is the option that does not align with typical franchisor offerings, which is 'Ownership of the franchisor's company assets.'
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