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Rus_ich [418]
3 years ago
6

In a franchise business, the party paying the franchise fee is known as the a. franchisee.b. franchisor.c. entrepreneur.d. busin

ess owner. e. manager
Business
1 answer:
Scilla [17]3 years ago
8 0

Answer:

a. franchisee

Explanation:

Franchisee -

A franchises referred to a small business , and is very common method of doing any business .

The owner of the business i.e. , franchises , is referred to as the franchisee .

The franchisee has the right to take decision of the business like , using trademark of the business , proprietary knowledge , sell the brand and associated brands .

They are responsible to pay the franchise fee.

Hence , from the given statement of the question,

The correct option is a. franchisee .

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Answer:

Dr cash    $375,000

Cr unearned revenue      $375,000

Dr unearned revenue     $37,500

Cr revenue                                    $37,500

Explanation:

The total amount realized from the sale of tickets is  $375,000($250*1500)

However,the cash proceeds should be debited to cash while it is also credited to unearned revenue

The revenue from fulfilling the performance obligation=1/10*$375,000=$37,500

The $37,500 is debited to unearned revenue and credited to sales revenue as that amount has now been earned

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P(A) = (No. of ways A can occur)/(Total no. of possible outcomes)

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