Franchises are regulated by a franchise agreement FALSE Franchises are

Franchises are regulated by a franchise agreement

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40. Franchises are regulated by a franchise agreement. AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 14-07 Recognize the role of franchises in business.Melvin - Chapter 14 #40Topic: Franchises: A Method rather than an Entity41. Steve has opened a sole proprietorship bicycle shop. The business shows a net income of $100,000. Steve took a salary of $40,000. The remaining money is left in the bank. AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: EvaluateDifficulty: 3 HardLearning Objective: 14-01 Articulate the factors that business owners should consider when selecting a business entity.Melvin - Chapter 14 #41Topic: Sole Proprietorships
42. Frank and Jesse are operating as a general partnership. A question has arisen that is not covered under their partnership agreement and also not addressed by the Revised Uniform Partnership Act. What will the courts do to resolve the situation? AACSB: Reflective ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 14-04 Recognize the effect and role of the RUPA for general partnerships and the RULPA for limited partnerships.Melvin - Chapter 14 #42Topic: Partnerships43. The Revised Uniform Partnership Act mandates that with regard to partnership debts and liabilities, general partners are: AACSB: AnalyticAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 14-04 Recognize the effect and role of the RUPA for general partnerships and the RULPA for limited partnerships.

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