When calculating the acquisition cost of a piece of equipment it should be the all inclusive cost of the equipment. The cost should include all transportation, installation, site preparation, sales or other taxes and testing costs prior to placing the equipment into production.
(b) Business transactions refers to the transactions that are related to only business, such as purchase of land, machinery, goods for business purposes. Any type of personal transaction is not included in business transaction.
Representative democracy refers to a system where the people govern through the election of parties or representatives with decision-making rights. Representative democracy can also be seen as a collective term for a number of democratic models. Common to these, however, is that the core consists of regularly recurring elections between competing representatives. People's sovereignty is achieved by the citizens influencing the government by voting in these elections. It is by far the most widespread method of exercising authoritative and legitimate control, demanding responsibility and developing debate in modern democracies.
According to my research on different business strategies, I can say that based on the information provided within the question Entrepreneurs purchasing such a license are engaging in franchising. This is when the owner of a brand licenses the name to a specific individual so that individual can open up his/her own store using that name and reputation. These licenses come with certain requirements placed by the owner of the brand that the buyer must follow.
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