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Gamma Salon Ownership Flashcards | StudBud
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Gamma Salon Ownership
Gamma Salon Ownership
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Flashcards
35 cards
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Questions
35
Answers
1
insurance that covers the cost of any salon equipment or the physical in case of FIRE or THEFT is known as premise or:
malpractice
health
liabilty
Property insurance
2
which of the following in NOT a necessary element for ensuring staff synergy:
lack of procedures
open communication
with-it-ness
clear shared vision
3
salon exterior, decor, music and sounds, and air and ventilation are elements of:
synergy
relaxation
ambiance
quiet
4
placing aromatic soaps and lotions in restrooms is an example of:
little things make a big difference
being nice
law
mandatory
5
Ownership in which two or more persons share all costs of opening, operating and maintaining the business:
corporation
franchise
suite
partnership
6
location is the MOST important factor in:
choosing a salon
opening a salon business
walking home
making money
7
Beverages, food, magazines and umbrella stands are examples of:
comforts
luxury
decor
touchables
8
Form of advertising involving postcards or flyers:
direct mail
T.V
written
doodles
9
ideal arrangement has an effecient traffic pattern providing:
the most steps
80 square feet
quiet reception area
the least amount of steps for client and salon professional to travel
10
when staff members take individual initiative to stay on top of things and pay attention to detail, they are practicing:
cooperation
synergy
with-it-ness
initiative
11
who applies for state tax permit before collecting taxes on products or services sold?
employee
salon owner
lawyer
customer
12
insurance that protects owner due to employee's negligence:
malpractice
fire
premise
property
13
Set income given to an employee on a weekly or monthly basis is known as:
commission
booth rent
salary
stock
14
determination on whether a specific product should be continued as a retail item is based on the number of:
retail recommendations
samples
clients
turnovers
15
Compliance with all local, state/province and federal rules, regulations and laws is the responsibility of the:
salon owner
building owner
former owner
employees
16
net worth is calculated by subtracting LIABILITIES from:
assets
tips
income
loans
17
Operating agreement in which a business functions under a parent corp. in exchange for promo, ads and management:
franchise
Partnership
corporation
sole proprietorship
18
its wise to keep all records of daily sales and services for:
7-10 years
5-7 years
12 months
1-3 years
19
money in checking and savings accounts, IRAs, stocks and bonds are all considered to be your total:
debt
tips
assets
fortune
20
Concept that creates a harmonious and predictable enviroment:
warm
personalied approach
synergy
ambiance
21
all payments received from clients for services and home care products:
income
tips
expenses
taxes
22
term for money owed:
assests
goals
net worth
liabilities
23
sole proprietorship:
partnership
franchise
one person
shoe store
24
best form of advertising:
billboards
QVC
word-of-mouth
T.V.
25
Finacial advisor who can tell you what a bank is likely to lend you, based on your net worth:
accountant
sales consultant
lawyer
insurance agent
26
procedures in the salon that ensure all products are accounted for:
seller
inventory control
product police
owner
27
Before salon owner can hire employees they must apply for:
social security number
federal employer identification number (FEIN)
credit card
application
28
Location is the most important factor in:
choosing a lawyer
choosing a salon
opening a salon business
shoosing a distributor
29
efficient work space for each salon professional is:
200-300 square feet
3 ft
over 300 square feet
120-150 square feet
30
example of liability on your finacial statement:
tips
income
money owed on credit card
receipts
31
It is important to pay loans on time and avoid:
fire
default
taxes
insurance
32
what is reported to the IRS as employee income:
operating expenses
tips
money to vendors
taxes
33
rental agreement is known as:
loan
lease
rent
commission
34
U.S. social security and canadian pension taxes are planned savings/retirement funds, and the money is collected by:
U.S. and canadian governments
county
city
state
35
Most cases, who is first person to greet a client:
receptionist
owner
security
manager