Depreciation The process of allocating to expense the cost of a plant

asset over its useful (service) life in a rational and systematic manner,
(p. 9-7).
Franchise (license) A contractual arrangement under which the
franchisor grants the franchisee the right to sell certain products,
perform specific services, or use certain trademarks or trade names,
usually within a designated geographic area. (p. 9-21).
Going concern assumption States that the company will continue in
operation for the foreseeable future, (p. 9-7).