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IT'S JUST BIZNESS Flashcards | StudBud
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IT'S JUST BIZNESS
IT'S JUST BIZNESS
20 terms
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StudBud Administration
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103 plays
Business prep review questions
Flashcards
20 cards
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Practice quiz
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Questions
20
Answers
1
A client retention strategy to reserve a future appointment b4 leaving the salon during their current visit is known as:
balancing
word of mouth
upselling
prebooking
2
Net worth is calculated by subtracting liabilities from:
student loans
assets
charge accounts
loan balances
3
Word of mouth is considered the best form of advertising.
False
True
4
All of the following items are important factors to research in the process of salon planning EXCEPT:
market need
inaccessible parking
cost of necessary improvements
location
5
Ownership where two or more persons share all costs of opening, operating and maintaining the business is a:
franchise
corporation
sole proprietorship
partnership
6
The ideal salon arrangement has an traffic pattern providing the least steps for the client and stylist to travel.
True
False
7
Compliance with all local, state/province and federal rules, regulations and laws is the responsibility of the:
salon owner
former building owner
local authorities
salon employees
8
Which of the following items must be reported as employee income?
change given to a client following payment
money paid to vendors for products
operating expenses paid by the salon
tips received
9
It is wise to keep all records of daily sales and services for:
5-7 years
14 years
2-4 years
10 years
10
Which of these descriptions is NOT a guideline to be used when creating a resume?
show prior employment information
write the resume in a brief and concise manner
list awards
provide at least 8 pages of information
11
Which type of insurance protects the salon owner from financial loss due to an employee's negligence?
premise
malpractice
social security
product liability
12
The type of business owned by shareholders and formed under legal guidelines?
sole proprietorship
partnership
corporation
limited liability company (llc)
13
An easy, effective and inexpensive way to attract new clients is to:
promote services that aren't available in the salon
distribute business cards to potential clients
run behind to show the salon is busy
point out weaknesses of other stylist to clients
14
Which of the following terms refers to all money owed?
assets
networth
financial status
liabilities
15
Which of the following statements describes what you should do if you are asked a question that seems discriminatory?
answer the question truthfully
give a false answer
politely decline to answer
remain defiantly silent
16
The term given for selling products for client home care is:
networking
scheduling
retailing
warehousing
17
An important aspect to remember when managing the financial operations of a salon is to:
create a budget
ignore economic conditions
dismiss advice from an accountant
avoid generating business through promotion
18
To be granted future loans, it is important to pay loans on time and avoid taxes.
False
True
19
Dependability as a work principle can be described as:
not waiting to be told what to do
showing up on time and ready to work
showing that you love what you do
getting along with co-workers
20
The tax based on the profits (earnings) of a business is known as:
operating tax
sales tax
income tax
payroll tax
