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Chapter 21 the Business of Barbering Exam Questions and Answers
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Chapter 21 the Business of Barbering Exam Questions and Answers
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Chapter 21 the Business of Barbering Exam Questions and AnswersBarbershop operation - Answer- the ongoing, recurring processes or activities involved in the running of a barbershop for purpose of producing income and value
Barbershop policies - Answer- the rules or regulations adopted by a barbershop to ensure that all clients and associates are being treated fairly and consistently
business plan - Answer- a written description of your business as you see it today and as you foresee it in the next five years
business regulations and laws - Answer- any and all local, state, and federal regulations
and laws that you must comply with when yo decide to open your barbershop or rent a booth
capital - Answer- money needed to invest in a business
consumption supplies - Answer- supplies used in the daily business operation
corporation - Answer- an ownership structure controlled by one or more stockholders
demographics - Answer- information about a specific population including data on race, age, income, and educational attainment
goals - Answer- a set of benchmarks that, once achieved, help you to realize your mission and your vision
insurance - Answer- guarantees protection against financial loss from malpractice, property liability, fire, burglaryand theft, and business interuption
partnership - Answer- business structure in which two or more people share ownership, although not necessarily equally
personnel - Answer- your staff or employees
record keeping - Answer- maintaining accurate and complete records of al financial activities in your business
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