A(n) _____ refers to the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product
a. retailer
b. franchisor
c. consumer
d. investor
ANSWER: b
A franchisor is the originator of a trade name, product, methods of operation, and the like that grants operating rights to another party to sell its product. A franchisee pays the franchisor for the right to use its name, product, and business methods, and takes advantage of the franchisor's brand equity and operational expertise.
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When a cost-based transfer price is used, the transfer price may be based on any of the following except
a) fixed cost alone. b) full cost. c) variable cost alone. d) all of these may be used.
A(n) ________ system is packaged business software that automates and integrates the majority of business processes, shares common data and practices across the entire enterprise, and produces information in a real-time environment
Fill in the blanks with correct word