MASTER - Chapter 29 - Financial Business Skills MILADY

What is the MOST important factor in any business plan?

How do venture capitalists benefit from loaning money to start a new business?

What term refers to the standard procedures establishes by the accounting profession?

You must fill out Form 1099 for any independent contractor to whom you paid more than ___ during the tax year.

What form must a person fill out to obtain a social security number?

What type of tax is an important factor in the sale of gift certificates?

What statement about risk management is correct?

If a business takes in $1,000 at the end of the day & it cost $600 to deliver the services, what is the gross profit?

What term refers to the owner's interest in the assets of the business after all of the liabilities have been deducted?

What is NOT a way in which computers are commonly used in salons and spas?

What is used to identify a business that maintains employees

What is the tool that prospective business owners use to help them develop a plan of action to avoid many risk factors?

What are the four Ps?

What form is used to report federal estimated tax payments?

What does payment of the self-employment tax make a sole proprietor eligible for?

What term refers to the point at which all costs are covered and your business begins to earn a profit?

What document is commonly referred to as a profit and loss statement?

What term refers to a legal document that clearly defines the terms of a loan agreement?

Who should you consult with when developing the plan of action for opening your new business?

What is NOT one of the three general categories the IRS uses to determine independent contractor status?

What term refers to the amount of money you need to invest in your business?

What statement about the federal unemployment tax is correct?

What term refers to anything that a business owns?

What is NOT one of the ways in which skin care businesses commonly compensate service providers?

What form is used to verify that an employee is eligible to work in the U.S

What section of your business plan should provide the reader with a complete overview of your entire strategy?

What form is used to report the amount of federal, social security, & Medicare taxes withheld & paid by each employee?

When must your federal tax return be filed by if April 15th falls on a Saturday?

When are quarterly tax payments due?

What is NOT a type of insurance generally recommended for salon and spa owners?

What statement about small-business loans is correct?

What is NOT something you should do before you decide to open your own business or purchase an existing one?

What part of your business plan should discuss the methods you'll use to develop brand recognition & promote business?

What statement about independent contractors is correct?

What is typically the biggest expense for a business?