Chapter 103E.05 Salon/Spa Ownership

What is the purpose of a handbook for a salon/spa?

A sole proprietorship is a business owned by:

If the operating expense is greater than the income, the salon/spa is operating at a(n):

An important aspect to remember when managing the financial operations of a salon/spa is to:

All payments received from clients for services and home-care products purchased is known as:

A set dollar amount of rent paid each month to the lessor is called:

What kind of insurance is required by federal law for all qualified employers?

An example of a liability on your financial statement would be:

What type of rent is a set dollar amount paid per month plus a percentage of the total monthly income.

Operation in which an initial purchase fee plus a monthly service charge is paid to the parent corporation is called:

A rental agreement is known as a:

Which of the following business types is owned by the shareholders and formed under legal guidelines?

Which of the following terms refers to all money owed?

An efficient working space for each esthetician is:

Which one of the following items is/are usually the largest expense in operating a salon/spa?

Insurance that helps cover costs of salon/spa equipment & physical location in case of fire/theft is known as premise or

What kind of insurance is required by federal law for all qualified employers?

Renting or leasing a workstation from a building owner would represent which of the following situations?

All the property you own is called a list of:

Which of the following items must be reported as employee income?

An account established to save for replacement of equipment is called:

All of the following items are considered to be your assets on a financial statement EXCEPT:

What form does the employer provide that indicates all taxes paid for the past year for each employee?

Workers' Compensation insurance is needed to protect the:

Which type of insurance protects the salon/spa owner from financial loss due to an employee’s negligence?

The tax based on the profits (earnings) of a business is known as:

What percentage of the total salon/spa expenses generally represents compensation for the salon/spa owner and employees?

Who must apply for a state sales tax permit before collecting taxes on products or services sold?

All of the costs incurred in running the salon/spa each day is referred to as:

Business ownership in which two or more persons share all costs of opening, operating and maintaining the business is a: