Milady Standard Barbering Exam
Review: Ch 21 The Business of
Barbering Verified Answers
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
What should be the primary concern when constructing the best physical layout for a
barbershop? - Answer-Maximum
How long does it take for most new shops to begin operating at full capacity? -
Answer-6 months
Which of the following is considered a barbershop's nerve center? - Answer-
Reception Area
An advertising budget should not exceed ________ of your gross income? - Answer-
3%
The first goal of every business should be to______________? - Answer-Maintain
current clients
Review: Ch 21 The Business of
Barbering Verified Answers
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
What should be the primary concern when constructing the best physical layout for a
barbershop? - Answer-Maximum
How long does it take for most new shops to begin operating at full capacity? -
Answer-6 months
Which of the following is considered a barbershop's nerve center? - Answer-
Reception Area
An advertising budget should not exceed ________ of your gross income? - Answer-
3%
The first goal of every business should be to______________? - Answer-Maintain
current clients
