Franchise Ownership Quiz

Franchise Ownership Quiz

11th Grade

100 Qs

quiz-placeholder

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Franchise Ownership Quiz

Franchise Ownership Quiz

Assessment

Quiz

Business

11th Grade

Practice Problem

Hard

Created by

Thomas Lent

Used 2+ times

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100 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you are buying an existing business, you should ask the current owner for important information in written form.

True

False

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Fewer than 100,000 people in the United States own franchises, and the popularity of franchise ownership is declining rapidly.

True

False

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Initial franchise fees are usually refundable if the franchise owner later decides to go into another line of business.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

State and federal laws require that the franchisor provide the Franchise Disclosure Document (FDD) to prospective franchisees 14 days before the franchisee signs a contract.

True

False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Comparing franchises is a good idea because some franchisors help buyers with marketing, merchandising, and site selection.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to some estimates, as many as 90 percent of all businesses, including the vast majority of small- and medium-sized companies, are owned by families.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Starting your own new business offers a low level of risk because you depend on your own business talents.

True

False

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