103 Business Test

The ideal salon arrangement has an efficient traffic pattern providing:

Affecting the knowledge of others will contribute to career success

Successful salons/shops are those whose staff are recommending their services and line of retail by doing all EXCEPT

Which form of advertising involves sending postcards or flyers to prospective clients?

You don't have to tell your client if you are going to be taking a vacation

A logical buyer is someone who wants to know all of the facts before making a purchase

Which is not a good way to ensure staff synergy

Dependability as a work principle can be described as:

You may be asked to fill out an application before an interview

An independent salon uses a set business plan provided by a parent company

A client retention strategy that involves booking a future appointment before leaving the salon is known as:

All of the following items are important factors to research in the process of salon planning EXCEPT:

What percentage of the total expenses generally represents compensation for the owner and employees?

A sole proprietorship is a business owned by:

Set income given to an employee on a weekly or monthly basis

Offering an additional haircoloring service to a client who is originally scheduled for a haircut is an example of

The term given for selling products for client home care is:

Who must apply for a state sales tax permit before collecting taxes on products

It is wise to keep all records of daily sales and services for:

Word of mouth will bring in referrals

Advertising is usually the biggest expense in running a salon

To be granted future loans, it is important to pay loans on time and avoid:

Net worth is calculated by subtracting liabilities from:

Which of the following items is reported to the IRS as employee income?

Compliance with all local, state/province and federal rules, regulations and laws is the responsibility of the:

An insurance agent is someone who could tell me how much I would get from a bank loan

CRM

An important aspect to remember when managing the financial operations of a salon is to:

Renting or leasing a workstation from a building owner would represent which of the following situations?

Which of the following business types is owned by the shareholders and formed under legal guidelines?

Property insurance will help cover costs if there is a fire or a theft

Which of the following terms refers to all money owed?

In many cases, the first person to greet a client as they arrive is the:

Pareto's principle is also called

Which type of insurance protects the salon owner from financial loss due to an employee's negligence?

Earning additional payment based on the number of clients you bring into the salon is what type of compensation?

The tax based on the profits (earnings) of a business is known as:

Which of the following statements describes what you should do if you are asked a question that seems discriminatory?

What is considered the best form of advertising?

Which of these descriptions is NOT a guideline to be used when creating a resumé?

Most businesses will offer car insurance as a benefit of employment

Products purchased by the salon owner for use during client services and for retailing are also called

The type of business in which two or more persons share all costs of opening, operating and maintaining the business is:

U.S. Social Security and Canadian Pension taxes are planned savings/retirement funds, and the money is collected by the:

The determination on whether a specific product should be continued as a retail item is based on the number of:

The professional's name, client's name, scheduled service, date and client's phone number should all be in the:

All payments received from clients for services and home care products purchased is known as: