Chapter THREE: Business Basics

A type of business ownership owned by one person who is in complete control of the business is a:

Which statement below is NOT considered an asset?

What is the most important factor to consider when opening a skin care business?

Which of the following types of insurance provides coverage for actual skin care center equipment and physical location?

Determining how many other skin care centers and estheticians are in the area is the first step in gauging the:

What is the name given to all payments received from clients for services performed and home care products purchased?

Which of the following business plan essentials describe the plan for telling the world about products offered?

A document used by a company to help in the decision-making process is called:

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

Which of the following strategies involves shaping public images in ways other than advertising?

Which of the following is a type of rent in which a set dollar amount is paid per month plus a % of total monthly income

A reserve of cash that can be drawn upon to meet operating expenses in the event of a slow month or two is a(n):

Which advisor travels a "territory" to sell products and equipment to skin care centers?

A "middleman" who maintains contracts to sell professional products or equipment, between manufacturer and skin center:

Which of the following operating expenses is paid on the profits of a business?

Inventory is also referred to as which of the following terms?

In general, an efficient working space allows for how many square feet per esthetician?

Which income guarantees a certain amount of money on a regular basis and provides additional income when goals are met?

The most selective and efficient form of advertising for local business is considered to be:

Of the following, which does NOT represent a way an employee can be paid?

An estimate of the amount earned in revenues and paid out in expenses is called:

All of the costs incurred in the day-to-day running of the skin care center are referred to as what?

A financial advisor who can explain in greater depth the types of business ownership and the related tax benefits is a:

A procedure used to ensure that products are accounted for from when they're added to the inventory until they're sold:

What incorporates all activities that attract attention to the skin center and create a positive impression?