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24 October, 09:53

Which of the following is true of a franchise?

It is the international term for all small businesses.

It is a type of novelty organization.

It is an organization that provides loans to start small businesses.

It is a prepackaged business bought, rented, or leased from a company.

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  1. 24 October, 10:21
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    It is a prepackaged business bought, rented, or leased from a company.

    Explanation:

    Franchises and Licenses are rights that a company or a government grants an entity to deliver a product or service under specified conditions. Many organizations grant franchise and license rights - e. g Pizza Hut. The cost of franchises and licenses are debited to a Franchises and licenses asset account and are amortized over the lives of agreements.
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