Franchisers are permitted to recognize the revenue from the sale of a franchise whenever they wish under accrual-basis accounting- False.
A franchise refers to a category of retail business in which a license is bestowed to an individual or group to access and market a company's commodities or services in a particular territory. The franchisee is provided with access to the franchisor's proprietary business knowledge, products, procedures, trademarks, and branding in exchange for a franchise fee. An initial start-up fee and an annual licensing fee are paid.
Most lucidly, A franchise can be defined as a joint venture between a franchisor and a franchisee. To note, the franchisor is the original business. The franchise is on the other hand, the purchaser of the rights of the franchisor. Franchises in today's times represent a popular way for entrepreneurs to start a business.
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Answer: The monthly payment will be $2007.81.
We have:
Cost of the sports coupe (PV) $84,500
Annual Percentage Rate (APR) 6.6%
Loan tenure in months (n) 48
We can find the monthly payment by using the Present value of an annuity formula:
Since APR is a yearly number, we need to convert it into a monthly rate.
So , 
Plugging values in the PV formula above we get,
