Colour the statement Green if True and Red if False: 1. A franchise is a business in which a company pays to another company for using their name to sell products/services. 2. A franchiser is the one that sells the franchise. 3. A franchisee is the one that buys the franchise. 4. An organization could have three layers of management: Upper, Supervisory and Tertiary. 5. Commission Payable is a short-term asset. 6. Long-term assets have a useful life of over five years. 7. The Financial Management function has three objectives: maximizing overall worth, meeting expenses and investing in assets of the company. 8. Inventory is considered a long-term asset. 8. Inventory is considered a long-term asset. 9. Short-term assets refer to assets that live more than one year. 10. In today's business world, sales of an organization might occur outside its home country. 11. No company will be able to sell without manufacturing or procuring the products. 12. A benefit may also be called Unique Selling Proposition. 13. Salaries Payable are short term assts. 14. Every additional unit produced will proportionately increases the production costs. 15. Higher inventory carrying costs result in low operating expenses. 16. There are generally two layers of decision makers: Top and Middle level. 17. Tactical management is less important than strategic planning. 18. Strengths and weaknesses deal with the internal and Opportunities and Threats deal with the external environment. 19. Utility is created when customers buy products or services. 20. Utility means the power of a customer to satisfy a need