Ch 3 Business Basics

Which of the following items is NOT considered to be part of an individual's total assets

The reservoir of cash that is needed to stay ahead of creditors is called

Which of the descriptions listed below does NOT represent an element of a business plan

Descriptions incorporate all activities that attract attention to the skin care center & create a positive impression

A reserve of cash that can be drawn upon to meet operating expenses in the event of a slow month or 2 is a

Assets minus liabilities equals

Which advisor travels within a "territory" to sell products & equipment to skin care centers

Financial advisor can explain is greater depth the types of business ownerships & the related tax benefits & liabilities

A withholding tax that is a planned savings retirement fund for every worker in the US is called

What is the purpose of an exit plan

Estimate of what you think you will earn in revenues & what you think you will pay out in expenses is called a

Which of the following is a typical commission rate for an employee to receive when selling retail to a client

Which of the following insurance policies is state-controlled and required by law

Accountants frequently refer to income as

Which of the following categories generally accounts for 50% of the expenses for a skin care center

What term is used to describe the amount of times it takes to sell the product once it is on the shelf

Which of the following skills is essential to be a successful skin care center owner

Compensation is based on a percentage of the dollar income an individual esthetician generates by serving clients

A business owned by 2 or more persons is a

The name given to all payments received from clients for services performed & home care products purchased

Determining how many other skin care centers & estheticians are in the area is the 1st step in gauging the

Which of the following terms defines salaries or commissions for yourself & your employees, including payroll taxes

Insurance policy that covers the actual skin care center equipment & physical location in case of natural disaster is

What is the title given to a form of operating agreement in which a fee is paid to a parent corporation

Following business plan essentials describes the plan for telling the world about the products offered by the business