Salon Business
Quiz by Anne Willford
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60 questions
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- Q1What do you need to bring with you to the state board exam?the TIPsmart watchcell phonedriver's license or state ID30s
- Q2Information pertaining to the size, average income, and buying habits of the population is called:depreciationliabilitiesassetsdemographics30s
- Q3Your tax responsibilities as an employee includes:paying quarterly taxeskeeping track of all the clients and money brought inpaying unemployment taxesfiling your personal income taxes30s
- Q4Your tax responsibilities as an independent contractor include:
paying quarterly taxes
all of thesekeeping track of all clientsfiling your personal income taxes30s - Q5If you default, it means that you:fail to pay back a loanare firedopen a line of creditpay your bills early30s
- Q6An insurance policy that protects against negligence on the part of the stylist is:premises liability insurancefire, theft, and burglary insurancemalpractice insurancebusiness interruption insurance30s
- Q7An insurance policy that protects against someone getting hurt on the salon property is:fire, theft, and burglarymalpracticepremises liabilitybusiness interruption30s
- Q8What is capital?moneyinsurance optionsexpenses paid outstocks30s
- Q9What is necessary to obtain financing when opening a salon?a list of stockholdersa business plana cosmetology licensea checking account30s
- Q10A term that means your staff or employees is:constituentsstockholderspersonnelclientele30s
- Q11A type of business in which stockholders control the ownership is called a:corporationsole proprietorshippartnershipfranchise30s
- Q12A type of ownership in which the owner enters a contract with an established parent company and shares a national name, image, and business formula is a:CorporationFranchisePartnershipSole proprietorship30s
- Q13Another name for individual salon ownership is a:independent contractorcorporationsole proprietorshipfranchise30s
- Q14The type of ownership that assumes the least amount of liability for the owner is a:sole proprietorshipfranchisepartnershipcorporation30s
- Q15The benefit of this type of ownership is that you only need to worry about yourself and your area of the salon:independent contractor or booth renterindividual or sole proprietorshipfranchise or corporationpartnership30s