Deck 17: Business, Marketing, Accounting, and Finance

Question 1

Which type of insurance provides income when an individual is unable to work because of illness or injury?

A) Disability
B) Health care
C) General liability
D) Professional liability

Answer 1

A
Explanation: Disability insurance is a form of insurance that provides beneficiary's income in the event that a disability created a barrier that prevented individuals from completing a core activity associated with their work.

Question 2

Which document is an in-depth account of an individual's education, experience, accomplishments, and is organized in reverse chronological order?

A) License
B) Résumé
C) Contract
D) Curriculum vitae

Answer 2

D
Explanation: Curriculum vitae (CVs) are an in-depth account of education, experiences, and accomplishments and are also organized in reverse chronological order. CVs are often longer in length compared to resumes.

Question 3

Which term means a massage therapist who works under terms specified in a written or verbal agreement, provides own tools and equipment, and sets the fee for services?

A) Sole proprietor
B) Independent contractor
C) Casual employee
D) Contract employee

Answer 3

B
Explanation: Self-employed individuals are usually considered independent contractors, or persons who provide goods or services to another under terms specified in a contract or within a verbal agreement. Independent contractors have special skills, training, or licensure that allows operation without supervision, and they often provide their own tools and equipment. Independent contractors generally provide services in more than one location and cannot be required to sign a non-compete agreement. Self-employed individuals receive a fee based on a completion of a task and the fee is usually determined by the independent contractor, not the individual who is receiving the service, or the business who contracted independent provider.

Question 4

Which term means dividing geographic areas into regions so a city can restrict the number and types of buildings within the region as well as how these buildings are used?

A) Zoning
B) Distributing
C) Licensure
D) Certification

Question 5

Which aspect of business protects the public by enforcing standards that restrict practice to qualified individuals who have met specific qualifications?

A) Occupational license
B) Sales tax permit
C) Professional liability insurance
D) Professional license

Question 6

Which reason is the major cause of business failures in general?

A) Incompetence
B) Acquired disability
C) Professional burnout
D) Staff conflict

Question 7

What is another term for professional liability insurance?

A) Health insurance
B) Disability insurance
C) Malpractice insurance
D) General liability insurance

Question 8

Which expense is a tax deduction?

A) Vacation travel
B) Leisure clothing
C) Continuing education
D) Meals eaten during work time

Question 9

Which statement describes most massage therapists according to the American Massage Therapy Association?

A) Most are independent contractors
B) Few are older than 30 years of age
C) Those working in franchises make the most money per hour
D) They chose massage therapy as their primary career

Question 10

What do the majority of employers look for on resumes and curriculum vitae?

A) Technique skills
B) Superior knowledge base
C) Leadership skills
D) Ability to work independently

Question 11

Which type of insurance protects service-providing professionals from bearing the full cost of defending against a negligence claim made by a client?

A) Disability
B) Health care
C) General liability
D) Professional liability

Question 12

Which business entity is granted a charter by the state and has its own privileges and liabilities distinct from those of its board of directors or its shareholders?

A) Corporation
B) Sole proprietorship
C) General partnership
D) Limited partnership

Question 13

Which type of business is that of a single owner?

A) S-corporation
B) Sole proprietorship
C) General partnership
D) Limited partnership

Question 14

Which business entity is between two or more individuals who join together to carry on a business venture for profit, and have unlimited personal liability for the business's debts?

A) S-corporation
B) General partnership
C) Sole proprietorship
D) Limited liability

Question 15

What is the minimum number of hours per week an employee needs to work to be considered full-time?

A) 20
B) 28
C) 38
D) 43

Question 16

Which type of insurance protects businesses from bearing the full cost of defending against claims for damages that arise from personal injury and property damage while clients are on the premises?

A) Disability
B) Health care
C) Commercial general liability
D) Professional liability

Question 17

If a massage therapist works at a place that provides the setting and equipment and determines when the therapist works and for how long, what is the therapist classified as?

A) Employee
B) Self-employed
C) Sole proprietor
D) Independent contractor

Question 18

Which type of interview involves being questioned by different individuals within a company?

A) Sequential
B) Screening
C) Electronic
D) Panel

Question 19

Which document is a brief summary of an individual's education, experience, and accomplishments related to a particular skill set?

A) License
B) Résumé
C) Contract
D) Proposal

Question 20

Business receipts, past income tax returns, and documents related to tax returns should be kept for a minimum of how many years?

A) Three
B) Five
C) Seven
D) Nine

Question 21

What is the primary method massage therapists use to promote themselves?

A) Client referral
B) Website
C) Social media
D) Events

Question 22

Which type of tax is levied on small business owners who derive income directly from consumers?

A) Income
B) Self-employment
C) Sales
D) Corporate

Question 23

Which type of conflict management involves listening in a respectful manner, being specific, and asking for the solution?

A) Avoidance
B) Competing
C) Sympathetic
D) Empathetic

Question 24

Which type of marketing is considered word-of-mouth?

A) Keeping a website up to date
B) A client giving a gift certificate to a friend
C) A blog that has useful information
D) Handing out a business card

Question 25

Which term means an idea or suggestion put forward for consideration?

A) License
B) Résumé
C) Contract
D) Proposal

Question 26

Which type of marketing is usually the first opportunity a massage therapist has to make a strong impression?

A) Business card
B) Facebook
C) Website
D) Blog

Question 27

Which process is voluntary and involves specialists in a particular field examining and endorsing the qualifications of a professional?

A) State licensure
B) Board licensure
C) State registration
D) Board certification

Question 28

Which type of marketing is the center of a business's digital or online presence?

A) Blog
B) Facebook
C) Instagram
D) Website

Question 29

Which aspect of business involves adding up all costs and profits then dividing this amount by the number of billable hours?

A) Insurance cost
B) Hourly expenses
C) Social security tax
D) Hourly rate

Question 30

Which term means an experienced individual within a facility who is paired with a newly hired individual during his or her orientation period?

A) Preceptor
B) Mentor
C) Sole proprietor
D) Independent contractor

Question 31

Which term means the exchange of goods or services without using money?

A) Asset
B) Equity
C) Barter
D) Cash flow

Question 32

Which term means the responsible and ethical use of technology?

A) Limited liability
B) Mission statement
C) Digital citizenship
D) Independent contractor

Question 33

Which term means activities used to create, communicate, deliver, and exchange offerings that have value for customers and clients?

A) Media
B) Vision
C) Marketing
D) Citizenship

Question 34

Which term refers to a statement of why a business exists and its core objectives?

A) Balance sheet
B) Curriculum vitae
C) Mission statement
D) Professional profile

Question 35

Which term refers to a small amount of money that a business keeps on hand to pay for minor business expenses?

A) Cash flow
B) Liabilities
C) Petty cash
D) Accounts receivable

Question 36

Which term means a small gift, such as money, given to a person who provided a service?

A) Gratuity
B) Debt
C) Capital
D) Deduction

Question 37

Short professional profiles are how many words or less?

A) 30
B) 60
C) 100
D) 500

Question 38

Which term means the recording and reporting of financial transactions?

A) Inventory
B) Marketing
C) Accounting
D) Depreciation

Question 39

Which term means a written or spoken agreement that usually involves business relationships, and are intended to be legally binding and enforceable by law?

A) License
B) Résumé
C) Contract
D) Proposal

Question 40

Which term means an attempt to influence buying behaviors by persuasive selling messages?

A) Vision
B) Publicity
C) Finances
D) Advertising

Question 41

Which document is a statement that shows income and expenses and indicates whether a business made money or not?

A) Balance sheet
B) Accounts receivable
C) Cash flow statement
D) Profit and loss statement

Question 42

Which document describes a company's or individual's organization, services and products, marketing strategy, and financial projections?

A) Business plan
B) Treatment plan
C) Liability insurance
D) Social networking sites

Question 43

In which part of the business plan is the company's legal structure discussed?

A) Company description
B) Executive summary
C) Organization and management
D) Appendix

Question 44

Which term means economic resources that are expected to be of benefit in the future?

A) Assets
B) Taxes
C) Loans
D) Liabilities

Question 45

In which part of the business plan are credit histories, resumes, and copies of licenses and certifications?

A) Company description
B) Organization and management
C) Marketing and sales
D) Appendix

Question 46

Which document reports movement of money into and out of a business during a period of time?

A) Balance sheet
B) Accounts receivable
C) Cash flow statement
D) Mission statement

Question 47

In which part of the business plan is the mission statement?

A) Company description
B) Executive summary
C) Market analysis
D) Funding request

Question 48

Which example is a business asset?

A) Taxes owed
B) Rent and utilities
C) Money borrowed from a bank
D) Property and equipment

Question 49

Which term means a presentation of a business entity's assets, liabilities, and equities of its owners on a specific date?

A) Balance sheet
B) Accounts payable
C) Accounts receivable
D) Profit and loss statement

Question 50

Which term means a business's net worth?

A) Equity
B) Capital
C) Asset
D) Income