The right to use the business know-how and trade mark of the franchiser is for a ________period of time.

unlimited

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limited

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only for 5 years

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none of above

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Solution

The correct option is B limited
Franchise agreements can last for periods as short as three years and as long as 20. Franchise Association Franchise Survey 2010 reports that franchise agreements in the UK are predominately for a fixed term of five years, with rights to renew at the end of the term.

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Sr. No.	List I	Sr. No.	List II
P	B2C commerce	1.	Electronic Commerce
Q	Selling + customer satisfaction	2.	Customers should approach business to buy
R	Form of business transactions that is carried out through electronic processing and transmission of data	3.	E-commerce
S	Allowing another firm in a foreign market to use technical know-how and trade mark	4.	The basic concept of this model is to sell the product online to the consumers
		5.	Marketing
		6.	Franchising

Explain trade credit and factoring as a source of finance for a business enterprise.

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