Asked by Alexandria Russell on Apr 28, 2024
Verified
In franchise arrangements,the franchisor gives the franchisee the exclusive right to sell a product or service in a given locale and to use the franchisor's name for a specified period of time.
Franchise Arrangements
Agreements where one party (the franchisor) grants another party (the franchisee) the right to use its trademark or brand name and operate a business under its business model.
Exclusive Right
A legal provision granting someone the sole authority to undertake a particular activity or use a specific property.
Franchisor's Name
The legal name of the entity that grants the license to a franchisee for the conducting of a business under the franchisor's trademarks and business model.
- Understand the strategies for revenue recognition related to different kinds of transactions, encompassing installment sales, franchise agreements, and bundled offerings.
Verified Answer
KD
Katze DämonMay 03, 2024
Final Answer :
True
Explanation :
This is the basic definition of a franchise arrangement.
Learning Objectives
- Understand the strategies for revenue recognition related to different kinds of transactions, encompassing installment sales, franchise agreements, and bundled offerings.