BUISENESS MANAGEMENT
BUSINESS STRUCTURE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which one of the following is not a form of legal structure for a business?
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partnership
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franchise
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private limited company
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public limited company
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Explanation:
Detailed explanation-1: -These entities are not the best legal structure for franchisees.
Detailed explanation-2: -The five major types of franchises are: job franchise, product franchise, business format franchise, investment franchise and conversion franchise.
Detailed explanation-3: -A franchise is a joint venture between a franchisor and a franchisee. The franchisor is the original business. It sells the right to use its name and idea. The franchisee buys this right to sell the franchisor’s goods or services under an existing business model and trademark.
Detailed explanation-4: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation.
There is 1 question to complete.