Milady Standard Barbering - Chapter 21 The Business of
Barbering || WELL-ENLIGHTENED QUESTIONS
WITH CORRECT SOLUTIONS!!
Limited owner liability correct answers Characteristics of individual ownership include
owner making all decisions, owner receiving all profits and owner being the boss, but not
what?
One decision maker correct answers Characteristics of a partnership arrangement include
more available capital, combined abilities, and shared gains and losses, but not what?
Business correct answers What type of plan is a written description of the proposed business?
Insurance correct answers Malpractice, property liability, and fire refer to what types of
what?
Accountant correct answers In order to maintain accurate records that are processed in a
timely manner, you should retain the services of what?
Monotone voice correct answers A good telephone personality includes clear speech, a
pleasing tone of voice and good grammar but not what?
Vision statement correct answers What is a sweeping picture of the long-term goal of the
business, what it is to become, and what it will look like when it gets there?
11-20 years correct answers During what time of barbershop ownership, will you want to
move from being a worker barber into a full-time manager of the overall business and to
begin planning for your eventual retirement?
Marketing correct answers What plan outlines all the research obtained regarding the clients a
business will target and their needs, wants and habits?
Previous owner's business plan correct answers Any agreement to buy an established
barbershop should include statement of inventory, financial audit, and information regarding
clientele but not what?
Lease agreement correct answers What type of agreement should specify clearly who owns
what and who is responsible for which repairs and expenses?
Ethnicity correct answers It is required by state and federal governments to keep accurate
records of an employee's salary, length of employment and social security number but not
what?
Volunteerism correct answers Smooth business management depends on sufficient
investment capital, proper pricing of services and strong computer skills but not what?
Insurance, utilities, and salaries correct answers What are examples of business expenses?
Barbering || WELL-ENLIGHTENED QUESTIONS
WITH CORRECT SOLUTIONS!!
Limited owner liability correct answers Characteristics of individual ownership include
owner making all decisions, owner receiving all profits and owner being the boss, but not
what?
One decision maker correct answers Characteristics of a partnership arrangement include
more available capital, combined abilities, and shared gains and losses, but not what?
Business correct answers What type of plan is a written description of the proposed business?
Insurance correct answers Malpractice, property liability, and fire refer to what types of
what?
Accountant correct answers In order to maintain accurate records that are processed in a
timely manner, you should retain the services of what?
Monotone voice correct answers A good telephone personality includes clear speech, a
pleasing tone of voice and good grammar but not what?
Vision statement correct answers What is a sweeping picture of the long-term goal of the
business, what it is to become, and what it will look like when it gets there?
11-20 years correct answers During what time of barbershop ownership, will you want to
move from being a worker barber into a full-time manager of the overall business and to
begin planning for your eventual retirement?
Marketing correct answers What plan outlines all the research obtained regarding the clients a
business will target and their needs, wants and habits?
Previous owner's business plan correct answers Any agreement to buy an established
barbershop should include statement of inventory, financial audit, and information regarding
clientele but not what?
Lease agreement correct answers What type of agreement should specify clearly who owns
what and who is responsible for which repairs and expenses?
Ethnicity correct answers It is required by state and federal governments to keep accurate
records of an employee's salary, length of employment and social security number but not
what?
Volunteerism correct answers Smooth business management depends on sufficient
investment capital, proper pricing of services and strong computer skills but not what?
Insurance, utilities, and salaries correct answers What are examples of business expenses?
