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WorksheetsSalon Business Part 4
Total questions: 12
Worksheet time: 9mins
A type of business in which stockholders control the ownership is called a:
A 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 called a:
Another name for an individual salon ownership is:
independent contractor
sole proprietorship
The type of ownership that assumes the least amount of personal liability for the owner is a:
franchise
The advantage of this type of ownership is that you only need to worry about yourself and your area of the salon:
franchise
partnership
booth rental
sole proprietorship
One way to prevent a lawsuit in the salon would be to:
never refuse to give a service
not attempt to treat, diagnose, or cure a disease or illness
Supplies used in daily business operations are called (a) , while supplies sold to clients are called (b) .
Receipts from sales and services are called:
(a) , while all money paid out in the salon is called (b)
expenses
liabilities
The largest expense in operating a salon is:
Salaries
No more than what percent of total gross income should be allocated to advertising?
(a)
What type of records should be kept for 7 years?
Service and inventory records
daily sales slips
payroll book and monthly and yearly records
In your allotment of funds, what should always be paid first?
Payroll
Utilities
Rent
Advertising
