No worries, you're not wrong. By default on the App Store the standard Apple's Licensed Application EULA applies. Optionally, Apple allows you to have your own license agreement instead of the standard one. And there is a special field for it on Apple's website where you edit your App Store app metadata. However, if you do not use your own agreement (you use the standard one) and also offer subscriptions, Apple wants the link to the standard agreement be explicitly specified in the app description. And in iOS UI it's called 'Terms of Use'.