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33 True/False questions

  1. AccountantMoney needed to invest in a business

          

  2. booth rentalMoney needed to invest in a business

          

  3. PartnershipBusiness structure in which two or more people share ownership, although not necessarily equality

          

  4. the receptionistAn ownership structure controlled by one or more stockholders.

          

  5. Vision StatementA long-term picture of what the business is to become and what it will look like when it gets there.

          

  6. Business PlanA written description of your business as you see it today, and as you foresee it in the next five years (detailed by year)

          

  7. Maximum EfficiencyWhen planning and constructing the best physical layout for a salon, the primary concern should be ________.

          

  8. Supporting DocumentsWhich part of a business plan includes the owner's resume, personal financial information, legal contracts, and any other arguments?

          

  9. Retail SuppliesSupplies sold to clients

          

  10. Sole ProprietorIndividual owner and, most often, the manager of a business

          

  11. CorporationThe ongoing, recurring processes or activities involved in the running of a business for the purpose of producing income and value.

          

  12. Financial DocumentsWhich part of a business plan includes the owner's resume, personal financial information, legal contracts, and any other arguments?

          

  13. Record KeepingSupplies sold to clients

          

  14. Consumption SuppliesSupplies sold to clients

          

  15. Organizational PlanWhich part of a business plan outlines management levels and describes how the business will be run?

          

  16. DemographicsAn ownership structure controlled by one or more stockholders.

          

  17. CapitalIt should always be your top priority to meet which financial obligation?

          

  18. Written AgreementsDocuments that govern the opening of a salon, including leases, vendor contracts, employee contracts, and more; all of which detail, usually for legal purposes, who does what and what is given in return.

          

  19. 1A set of benchmarks that, once achieved, help you to realize your mission and your vision.

          

  20. PersonnelIt should always be your top priority to meet which financial obligation?

          

  21. Salon PoliciesThe rules or regulations adopted by a salon to ensure that all clients and associates are being treated fairly and consistently

          

  22. Executive SummaryWhich part of a business plan summarizes your plan and states your objectives.

          

  23. $75 to $125Money needed to invest in a business

          

  24. Offers Easy AccessThe rules or regulations adopted by a salon to ensure that all clients and associates are being treated fairly and consistently

          

  25. Mission StatementWhich part of a business plan is a description of the key strategic influences of the business?

          

  26. GoalsWhat is the minimum number of stockholders required for a corporation to exist?

          

  27. Business regulations and lawsAny and all local, state, and federal regulations and laws that you must comply with when you decide to open your salon or rent a booth.

          

  28. Satisfied clientsWhat is the best form of advertising for a salon?

          

  29. maintain current clientsThe first goal of every business should be to _______________.

          

  30. Marketing PlanWhich part of a business plan outlines all of the research obtained regarding the clients your business will target and their needs, wants, and habits.

          

  31. InsuranceGuarantees protection against financial loss from malpractice, property liability, fire, burglary and theft, and business interruption.

          

  32. Salon OperationThe ongoing, recurring processes or activities involved in the running of a business for the purpose of producing income and value.

          

  33. PayrollMoney needed to invest in a business