Ch. 3

Which item listed below is NOT considered an asset?

An accountant is a financial advisor who can explain in greater depth the types or business ownership.

Which of the following types of insurance covers the cost of a lawsuit or settlement resulting from damage on a client?

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

Which of the following items does a skin care owner apply for before collecting tax on products or services?

A business owned by one person who is in complete control of the business is called?

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

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

Insurance is a form of:

A list of all the property you own equals?

The most important factor in opening a skin care center is the location?

Which of the following terms defines salaries or commissions for yourself and your employees including payroll taxes?

Which type of insurance provides coverage for actual skin care equipment and physical location?

Another name for Inventory is :

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

Which term refers to all costs incurred in the day-to-day running of the skin care center?

In most cases, who is the first person to greet clients upon arriving at the spa/salon?

A business owned by two or more people is called:

Asset is the term used to identify an amount you owe.

This is the title given to a form of operating agreement in which a fee is paid to a parent corporation:

How much room per esthetician is needed to create an efficient work space?

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

Utilities, supplies, cost of promotions, postage, and taxes are identified as which of the following types of costs?

Which of the following insurance policies is state-controlled and required by law?

It’s recommended for the office personnel to answer the phone within how many rings?

What type of income is based on a percentage of the income an individual esthetician generates?

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

What type of business is owned by its shareholders and is formed under state law?

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

Accountants frequently refer to income as:

A distributor travels withing a "territory" to sell products and equipment to skin care centers.

A skin care center should keep all records of daily sales and services for at least:

On a personal financial statement all of the money you owe is called:

Which is considered the owner’s largest expense when operating a skin care center?

Which type of expert would most likely be of assistance in designing a skin care center layout?

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