Ch 3 Business Basics

An advisor on borrowing money, signing rental agreements and assuming tax responsibilities is a(n):

Which of the descriptions listed below does NOT represent an element of a business plan?

An estimate of what you think you'll earn in revenues and what you'll pay out in expenses is called a(n):

Which of the following items is NOT considered to be part of an individual's total assets?

Which type of rent allows owners to predict monthly expenses carefully?

A business owned by two or more persons is a:

Which advisor travels within a "territory" to sell products and equipment to skin care centers?

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

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

If the skin care center's income is greater than the operating expenses, the skin care center is operating at a(n):

A set dollar amount paid per month plus a percentage total of the monthly income is called:

Which type of business is owned by shareholders or members who have funds invested in the company?

Accountants frequently refer to income as:

Which of the following is the best determining factor upon which to establish service prices for your business?

The most effective form of advertising is often:

Inventory is also referred to as which of the following?

A suggested telephone answering tip is to answer the phone within how many rings?

A withholding tax that is a planned savings/retirement fund for every worker in the United States is called:

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

In many cases who is the first person to greet a client?

Of the following descriptions, which does NOT represent a way an employee can be paid?

Which of the following terms comprises all the property a person owns?