Business Basics esti

Question 1

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

Accepted Answer

worker's compensation

Question 2

The rental process you should make sure that certain basic services are provided by the landlord these services include:

Accepted Answer

all the above

Question 3

the reservoir of cash needed to stay ahead of creditors is called:

Accepted Answer

operating capital

Question 4

insurance type protects the owner from financial loss that result from employee negligence during services on client

Accepted Answer

malpractice insurance

Question 5

which statement below is NOT considered an asset?

Accepted Answer

outstanding loan balance

Question 6

of the following descriptions, which does NOT represents a way an employee can be paid?

Accepted Answer

income tax

Question 7

which of the following strategies involves shaping your company public image in ways other than advertising?

Accepted Answer

public relations

Question 8

accountants frequently refer to income as:

Accepted Answer

revenue

Question 9

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

Accepted Answer

market need

Question 10

what is the purpose of an exit plan?

Accepted Answer

describes your strategy in case you decide to call it quits

Question 11

what insurance do states require employers to have to protect the employee if the employee is injured while working

Accepted Answer

workers compensation insurance

Question 12

financial advisor who can explain greater depth, types of business ownership and related tax benefits & liabilities is:

Accepted Answer

accountant

Question 13

which of the following is the best determining factor upon which to establish service prices of your skin care center?

Accepted Answer

results of a market survey conducted in your area

Question 14

which of the following is the largest expense in operating a skin care center?

Accepted Answer

salaries and commissions

Question 15

a suggested telephone answering tip is to answer the phone with how many rings?

Accepted Answer

two rings

Question 16

Type of compensation grantees certain amount of $ regular basis & provides additional income when employee reaches goal

Accepted Answer

salary-plus-commission structure

Question 17

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

Accepted Answer

worker's compensation

Question 18

insurance is a form of:

Accepted Answer

risk management

Question 19

on a personal financial statement, all the money owned is called:

Accepted Answer

liabilities

Question 20

which of the following statements best describes the order in which to count back change to a client?

Accepted Answer

coins first, then bills

Question 21

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

Accepted Answer

income tax

Question 22

if skin care center's income is greater than the operating expenses, the skin care center is considered to operate at:

Accepted Answer

profit

Question 23

what is the total given to a form of operating agreement in which a fee is paid to a parent corporation?

Accepted Answer

franchise

Question 24

inventory is also referred to as which of the following terms?

Accepted Answer

stock in quantity

Question 25

what is a list of all the property you own called?

Accepted Answer

total assets

Question 26

what term is used to describe the amount of time it takes to sell the product once it is on the shelf?

Accepted Answer

turns or turnovers

Question 27

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

Accepted Answer

direct mail

Question 28

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

Accepted Answer

compensation

Question 29

a business owned by two or more persons is called a:

Accepted Answer

partnership

Question 30

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

Accepted Answer

six months

Question 31

a document used by a company to help in the decision-making process is called:

Accepted Answer

business plan

Question 32

which of the following is a typical commission rate for an employee to receive when selling retail to a client?

Accepted Answer

8% to 15%

Question 33

what is a list of all the money you owe called?

Accepted Answer

total liabilities

Question 34

which of the following formulas best describes net worth?

Accepted Answer

assets minus liabilities

Question 35

procedure used in skin center to ensure products are accounted the time they are added to the inventory until they sell

Accepted Answer

inventory control

Business Basics esti

Questions 35

Business Basics esti

Questions 35