This form requests certain information with regard to each corporate officer, director, partner, or other principal of the franchise sales agent. The form also contains a supplemental franchise sales agent statement which is to be used when reporting a change of corporate officers, directors, or other principals of the franchise sales agent.
District of Columbia New York Franchise Sales Agent Statement
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State:
Multi-State
Control #:
US-4-16-2-STP
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Word;
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How to fill out New York Franchise Sales Agent Statement?
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FAQ
To prove timely delivery of the Franchise Disclosure Document (FDD), Item 23 requires franchisors to obtain a signed receipt for the FDD furnished to each prospective franchisee.
The FDD outlines comprehensive information about the roles of both parties involved in the franchise?the franchisor and the franchisee?and is designed to enable the potential franchisee to make an honest and informed decision about their investment into the business.
A franchise may be any of the following business types: Sole proprietorship. Corporation. Limited liability company.
What is included in the information statement. The information statement highlights issues to think about before becoming a franchisee. The information statement includes: the risks of franchising. doing research and due diligence.
Initial franchise fees ? The present value of the amount to be paid by a franchisee is recorded as an intangible asset on the balance sheet and is to be amortized over the expected period of benefit of the franchise.
In a franchisor-franchisee relationship, the initial franchise fees will be recorded as a non-current asset in the balance sheet. Cash is also considered an asset. However, the initial franchisee fee, as well as ongoing franchise fees, will lead to a reduction in the franchisee's cash balance.
The two most important franchisor financial statements franchisees need to review are the Balance Sheet and Income Statement.
Answer and Explanation: The correct answer is option d. Intangible Assets. Please take note that under the US Generally Accepted Accounting Principle (GAAP), a franchise is a contract-based intangible asset. It is an agreement between the government and private entity, or between private entities and individuals.