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Cosmetology 6: Salon Business

Salon Business 

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Question 1 of 20

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

A

List awards and special recognition

B

Show prior employment information

C

Provide at least eight pages of information

D

Write the resume in a belief and concise manner

Question 2 of 20

During a job interview it is very important to:

A

Tell a lot of stories

B

Stay calm and be yourself

C

Stretch the truth if necessary

D

Tell the interviewer whatever you think he or she wants to hear

Question 3 of 20

Salary, paid holidays bonuses and insurance are all examples of:

A

Assets

B

Liabilities

C

Job benefits

D

Job responsibilities

Question 4 of 20

At regular intervals, an employer will discuss job performance with an employee, which is called:

A

Getting a raise

B

An interview

C

Quarterly Quarrels

D

A performance review

Question 5 of 20

What is a list of total assets called? 

A

Everything you owe

B

All your charges

C

Everything you own

D

Your daily liabilities

Question 6 of 20

What is a list of total liabilities called?

A

Your net worth

B

All the money you owe

C

Your net assets

D

Your daily income

Question 7 of 20

Net worth is total assets minus:

A

Total liabilities

B

Gross assets

C

Gross worth

D

Borrowing Capacity

Question 8 of 20

An example of a liability on a financial statement would be: 

A

Last week's income

B

Sales tax receipts

C

The balance due on your loan

D

Any earned tips

Question 9 of 20

A sole proprietorship is a business owned by: 

A

Two or more people

B

A corporation

C

A franchise

D

One person

Question 10 of 20

A form of operation in which a fee is paid to a parent corporation is a(n);

A

Partnership

B

Corporation

C

Franchise

D

Entity

Question 11 of 20

Which of the following businesses is owned by the shareholders, and is formed under legal guidelines? 

A

Corporation

B

Franchise

C

Partnership

D

Proprietorship

Question 12 of 20

Location is the most important factor in: 

A

Opening a salon

B

Choosing a distributor

C

Choosing your lawyer

D

Choosing your accountant

Question 13 of 20

An efficient working space for each stylist is: 

A

50 to 75 square feet

B

120 to 150 square feet

C

200 to 300 square feet

D

Over 300 square feet

Question 14 of 20

A rental system in which the exact rental payment each month is known is called a: 

A

Variable rent

B

Fixed rent

C

Fixed liability

D

Variable expense

Question 15 of 20

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

A

Premise

B

Product liability

C

Malpractice

D

Social security

Question 16 of 20

Worker's Compensation Insurance is needed to protect the:

A

Salon

B

Customers

C

Inventory

D

Employee

Question 17 of 20

Who must apply for a state sales tax permit before collecting taxes on products or services sold?

A

Employee

B

Customer

C

Lawyer

D

Salon owner

Question 18 of 20

The government agency that could audit income records is called the:

A

ADA

B

EPA

C

IRS

D

OSHA

Question 19 of 20

On the average, the largest expense in operating a salon is considered to be: 

A

Rent

B

Supplies

C

Utilities

D

Salaries or Commissions

Question 20 of 20

What is the commission structure compensation system based on to determine pay?

A

Years of service

B

Length of hair

C

Number of clients

D

Starting date of employment

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