Cosmetology State Board Prep: Salon Business and Florida Law Exam with Complete Solutions | 100% Correct | Verified & Updated 2024

Cosmetology State Board Prep: Salon Business and Florida Law Exam with Complete Solutions | 100% Correct | Verified & Updated 2024 Word-of-mouth advertising = - Answer ️️ -The most effective way of building your clientele Personal assets = - Answer ️️ -Property you own; house, car, jewelry, etc. Liabilities = - Answer ️️ -The money you owe. Net worth = - Answer ️️ -Assets minus Liabilities. Sole proprietorship = - Answer ️️ -Business owned by one person. Partnership = - Answer ️️ -Business owned by two or more persons. Corporation = - Answer ️️ -Legal entity, separate from its shareholders, which is formed under legal guidelines. Franchise = - Answer ️️ -An operating agreement in which a fee is paid to a parent corporation in exchange for fixtures, promotion, advertising, education and management techniques. Rental agreement = - Answer ️️ -Lease Fixed rent = - Answer ️️ -Set dollar amount paid per month to the lessor. Variable rent = - Answer ️️ -Includes a set dollar amount paid per month plus a percentage of the total monthly income. Malpractice insurance = - Answer ️️ -Protects the salon owner from financial loss that can result from employee negligence while performing hair, nail and skin care services on salon clients. Property/premise insurance = - Answer ️️ -Covers the actual salon equipment and physical location in case of natural disasters, fire, theft or burglary, or accidents occurring at the business. Product liability insurance = - Answer ️️ -Protects against financial loss arising because of injury or damage resulting from the use of a product. Unemployment insurance = - Answer ️️ -Required by federal law for all qualified employers. Worker's compensation = - Answer ️️ -State-controlled insurance required by law. Social security = - Answer ️️ -Planned savings/retirement fund for every worker in the United States. Profit = - Answer ️️ -Income minus Expenses Commission structure = - Answer ️️ -Based on percentage of the dollar income the designer creates by servicing clients. Salary structure = - Answer ️️ -Guarantees a set income on a weekly or monthly basis. Salary plus commission structure = - Answer ️️ -Guarantees a certain amount of money on a regular basis and allows additional payment based on the number of clients the designer brings into the salon. Inventory control = - Answer ️️ -Procedures used to ensure that products are accounted for from the time they are brought into the salon until they are sold or used. Successful selling/retailing = - Answer ️️ -The art of professional recommendation. Ready buyer = - Answer ️️ -Open-minded and will purchase without hesitation. Logical buyer = - Answer ️️ -Wants to know facts about products, and will think carefully before purchasing. Emotional buyer = - Answer ️️ -Purchases more on personal reasons than fact. Bargain buyer = - Answer ️️ -Wants to save money at all costs - not as interested in quality of product as price. Stubborn buyer = - Answer ️️ -Puts up a struggle and has a strong desire to debate with you. Personal hygiene = - Answer ️️ -Your individual system for maintaining your cleanliness and health. Hygiene = - Answer ️️ -Science that deals with healthful living. Halitosis = - Answer ️️ -Bad breath Tact = - Answer ️️ -Learning to say the proper thing to a person without giving offense. Open ended questions = - Answer ️️ -Cannot be answered with yes or no. Human relations = - Answer ️️ -Getting along with others. Personality = - Answer ️️ -The outward reflection of your inner feelings, thoughts, attitudes and values. Religion - Politics - Personal Problems = - Answer ️️ -Topics to avoi