stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
103.5 Salon/Spa Ownership Flashcards | StudBud
Explore
/
103.5 Salon/Spa Ownership
103.5 Salon/Spa Ownership
10 terms
·
StudBud Administration
·
75 plays
Imported from external platform
Flashcards
10 cards
F
Practice quiz
P
Host live
L
Questions
10
Answers
1
Net worth is calculated by subtracting liabilities from:
Loan balances
Student loans
Charge accounts
Assets
2
What percentage of the total salon/spa expenses generally represents compensation for the owner and employees?
25%
10%
45%
75%
3
The type of ownership in which 2 or more persons share all costs of opening, operating and maintaining a business is a:
Corporation
Franchise
Partnership
Sole proprietorship
4
Renting or leasing a workstation from a building owner would represent which of the following situations?
Partnership
Independent contractor
Sole proprietorship
Corporation
5
Workers’ compensation insurance is needed to protect the:
Advertisers
Salon/spa
Employee
Inventory
6
Which of the following terms refers to all money owed?
Assets
Net worth
Financial assets
Liabilities
7
An efficient working space for each esthetician is:
50-75 square feet
120-150 square feet
Over 300 square feet
200-300 square feet
8
To be granted future loans, it is important to pay loans on time and avoid:
Insurance
Compensation
Default
Taxes
9
Which of the following business types is owned by the shareholders and formed under legal guidelines?
Corporation
Sole proprietorship
Franchise
Partnerships
10
Which type of insurance protects the salon/spa owner from financial loss due to an employee’s negligence?
Product liability
Malpractice
Unemployment
Premise