Milady Standard Barbering Exam Review: Ch 21 The Business of Barbering Questions & Answers 100% Verified
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Module
Milady Standard Barbering
Institution
Milady Standard Barbering
A _______________ is written description of your business as you see it today and as you foresee it in the next 5 years? - ANSWER_Business Plan
Which of the following is an ownership structure controlled by one or more stockholders? - ANSWER_Corporation
One reason for going into a partnership...
Milady Standard Barbering Exam Review: Ch 21 The Business of Barbering Questions & Answers 100% Verified Barbershop owners have no guarantee of _________________? - ANSWER_Profits
Owning you own barbershop or renting a booth in an existing shop or salon requires _________________? - ANSWER_A strong line of credit
Which of the following is a guide to actions of the organization? - ANSWER_Mission Statement
What business time period would be appropriate for adding more locations or expanding the scope of the business? - ANSWER_Years 5 to 10
A _______________ is written description of your business as you see it today and as you foresee it in the next 5 years? - ANSWER_Business Plan
Which of the following is an ownership structure controlled by one or more stockholders? - ANSWER_Corporation
One reason for going into a partnership arrangement is to ________? - ANSWER_Have help running your operation
One of the requirements for a partnership arrangement is __________? - ANSWER_Trust
In a business plan, the owner's resume and personal financial information would be found in the ___________? - ANSWER_Supporting Documents
The kinds of services your business will offer and the quality of those services is found in what part of the business plan? - ANSWER_Mission Statement
Supplies that are used in the daily business operation are ______________supplies? - ANSWER_Consumption
Someone who is trained to do everything from recording sales and payroll t generating a profit- and - loss statement is called a(n)__________? - ANSWER_Full-
charge bookkeeper
Unless you are at least _______________ booked all the time, it may not be advantageous to rent a booth? - ANSWER_70%
In how many states is booth rent not allowed? - ANSWER_2
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