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disbursement ledger

(A disbursement ledger is a document that lists all business expenditures.

Why is it advisable to consult an accountant when preparing taxes?

(A good accountant knows the changing tax laws and can often find many deductions that you might otherwise miss.

massage license

(A massage license can be a city, county, or state requirement to perform massage services for a fee.

mileage log

(A mileage log is a document in which business-related auto travel is recorded for tax purposes.

mission statement

(A mission statement is a short, general statement of the main focus of the business.

partnership

(A partnership is a business setup in which two or more partners share the responsibilities and benefits of running the business.

petty cash fund

(A petty cash fund is maintained to pay small disbursements for incidentals.

provider's number

(A provider's number is a numeric identification issued to licensed health care providers that is used when submitting claims to receive payment fromt insurance companies.

sole proprietor

(A sole proprietor is an individual business owner responsible for all expenses, obligations, liabilities, and assets.

target market

(A target market is a segment of the population with specific characteristics that a business owner would prefer to attract to her services.

When a satisfied client refers a new person, what should be done?

(Acknowledge the client with a thank you.

entrepreneur

(An entrepreneur is a person who takes on a business endeavor with the expectation of being profitable.

income ledger

(An income ledger is a document that lists all business-related income, a summary of all cash receipts and invoices.

independent contractor

(An independent contractor determines own work schedule, provides own supplies, gets paid a flat fee, and is responsible for own taxes.

bookkeeping

(Bookkeeping is the activity of maintaining financial records of the inflow and outflow of revenue or capital.

business expenditures

(Business expenditures consist of all money spent on business-related items or services.

cost-of-goods

(Cost-of-goods is the expenditure made for items that will be resold for profit

EIN

(EIN is acronym for employer identification number, a number issued by the Internal Revenue Service for an employer or business owner to use for tax purposes.

What is the advantage of selecting a target market?

(It enables the practitioner to modify advertising and promotional activities to appeal to the specific group.

What is the importance of an appointment book?

(It is a time-management tool and can be used as a portable file to record mileage, important phone numbers, business expenses, and appointment

personal draw

(Personal draw is money that the owner takes from the business account for personal use.

professional liability insurance

(Professional liability insurance protects the therapist from lawsuits filed by a client because of injury or loss that results from alleged negligence or substandard performance of professional skills.

self-employed

(Self-employed means working for one's self rather than being employed by someone else.

start-up costs

(Start-up costs are the funding necessary to begin a business, including all expenditures made before any revenue is collected.

tax deductible

(Tax deductibles are expenses and costs that can be subtracted from gross income to determine a person's taxable income.

word-of-mouth advertising

(Word-of-mouth advertising is the least expensive form of advertising, in which the practitioner or satisfied clients tell others and encourage them to use his services.

zoning regulations

(Zoning regulations are local laws that control where certain types of structures or businesses are located within their jurisdiction. These can affect massage businesses operated out of a home in a residential district.

A record of moncy owed to other persons or businesses is kept in an (accounts payable) file.

(accounts payable

Management of a corporation is carried on by a

(board of directors

Items and equipment that are purchased to be used in the business for an extended time (more than a year) are called

(business assets

Specific, attainable, measurable things or accomplishments that you set and make a commitment to achieve ar e termed

(business goals

What should be included on every piece of promotional material?

(business name, location, and phone number

The practice of encouraging clients to come back for services repeatedly is known as

(client retention

To establish a (corporation) a charter must be obtained from the state in which the business operates.

(corporation

What is included in the income records?

(daily receipts and a ledger

ledger that records, separates, and classifies business expenditures is called a

(disbursement record

Most promotional activities are (educational) in nature.

(educational

The standards acceptable professional behavior by which a person or business conducts business are called (ethics)

(ethics

If a business is operating under a name other than the owner's, a (fictitious name statement or a DBA IDoing Business As) required.

(fictitious name statement or a DBA IDoing Business As is required.

As a massage business owner, one should have adequate insurance against (fire) (theft) and (liability)

(fire, theft and (liability

When is it necessary to keep an accounts receivable file?

(if credit is extended or clients are billed

summary of all sales and cash receipts is called an

(income ledger

When setting fees for massage, consider the (market) and the (competition)

(market, (competition

The business activity done to promote and increase business is called (marketing)

(marketing

1. A short general statement of the main focus of the business is called the

(mission statement

If a massage business is operated out of a home, are all telephone expenses tax deductible?

(only if the phone is registered as a business phone

Two primary reasons for the failure of sa businesses are (poor management) and (undercapitalization)

(poor management and (undercapitalization

The identification number issued to licensed health care providers and used when submitting claims to medical insurance companies is called a

(provider's number

Which receipts should be kept and filed?

(receipts for all expenses

If you are an individual owner of a business and carry all expenses, obligations, liabilities, and assets , you are considered

(sole proprietor

When a business is beginning, the expenses incurred before any revenues are collected are considered

(start-up costs

A segment of the population with similar characteristics that the practitioner might prefer to attract is her

(target market

Where does petty cash fund money come from?

(the business account

Which name is on the business checking account?

(the business name

If business is a sole proprietorship, who is responsible for any losses or debts?

(the individual owner of the business

What are two methods of determining business-related automobile expenses?

(the standard mileage allowance or actual automobile expense

For which purposes are checks written from the business account?

(to pay all expenses and bills of the business

What is the purpose of a petty cash fund?

(to pay for small incidental business expenses

How many copies of the invoice should there be, and where do they go?

(two copies: one for the client; one for the business records

When does business planning begin?

(when business is conceived

When does business planning end?

(when the business is no longer in existence)

bank statement

A bank statement is a document issued periodically usually monthlyl by a financial institution that lists transactions during that period.)

business checking account

A business checking account is an account maintained specifically for business transactions.)

business license

A business license may be required to do a business in a city)

fictitious name statement

A fictitious name statement, also called a DBA, is required if the business name differs from the owner's name filed with the county or state, to ensure that no one else is doing business under the same name.)

What are four common types of business operations?

A. sole proprietor b. (partnership c. (corporation d. (limited liability corporation LLCI

accounts payable

Accounts payable is a record of the moneys that you owe to other persons or businesses.

accounts receivable

Accounts receivable is a record of moneys owed to you by other ns or businesses

advertising

Advertising is any marketing activity that is done in return for direct payment.)

covers the vehicle and its contents, regardless of who is at fault

Automobile insurance

bank account reconciliation

Bank account reconciliation is the act of verifying personal banking records with a bank statement.)

business assets

Business assets are items and equipment purchased and to be used in the business for an extended period more than a yearl.)

business goals

Business goals are specific, attainable, measurable things or accomplishments that you decide on and make a commitment to achieve to support your mission, reinforce your purpose, clarify your intentions, and direct your creative energy toward realizing your dreams and success.

client file

Client file is the mechanism practitioners use to record pertinent client information and document the work that they have done with clients.)

client retention

Client retention is the practice of keeping clients so that they return repeatedly)

corporation

Corporation is a business setup subject to state regulation and taxation. A charter must be obtained from the state in which the corporation operates.)

DBA

DBA is acronym for " doing business as , " also known as a " fictitious name statement " , it is required if the business name is different than the owner's name filed with the county or state, to ensure that no one else is doing business under the same name.)

direct mail

Direct mail is a marketing practice of sending promotional material to target markets through the mail.)

An employer identification number must be obtained from the Internal Revenue Service) if the business hires employees.

Internal Revenue Service)

inventory

Inventory is the supply of products or goods on hand.)

invoice

Inventory is the supply of products or goods on hand.)

LL.C

LLC is anacoym for limited liability compary, a legal entity somewhere between a artnership and a corporation that must have at least two members and file with the IRS Owners or members are a separate entity from the business and somewhat shielded from the business's liabilities.)

limited liability company

Limited liability companies are a form of legal entity, something between a partnership and a corporation.)

marketing

Marketing consists of all activities carried on to promote or increase business, including advertising, promotions, public relations, referrals, and client retention)

Are the products that are for sale in the business considered business assets?

No

outcalls

Outcalls are massage or business sessions that are performed away from the practitioner's office.)

protects the therapist from lawsuits filed by a client because of injury or loss that results from negligence or substandard performance

Professional liability insurance

record keeping

Record keeping is the act of maintaining documentation of business activities.)

referral

Referrals work two ways: 1) if a client shows conditions that would benefit from the services of another health care professional, the practitioner can suggest that the client seek him; 2) as a marketing strategy, new business can be generated by soliciting referrals from satisfied clients or health professionals familiar with your work.

Schedule C

Schedule C is a federal tax document (Sole Proprietorship Business or Profession Profit or Loss Form] in which income from self-employment is recorded.

Schedule SE

Schedule SE is a federal tax document (Social Security Self-Employment Tax Form] in which self-employment Social Security payment responsibility is calculated and documented

conceived

[생각,목적,감정] 등을 마음에 품다

priorities

[시간 순서가]먼저임

(determining

[신중하게]결정하다,한정하다,정하다

Which information should be kept in a record of business assets?

a current list of business equipment and items that includes a description of the item, the date purchased, and the purchase price)

How long should canceled checks and bank statements be kept for tax purposes?

a minimum of seven years)

How long should receipts be kept?

a minimum of seven years)

When a health care professional refers a client, what should be done?

a. (Confer with the health care professional to find out why they referred. b. (Report back to the professional with any results. c. (Acknowledge the professional with written thank-you note.

What are two ways of determining a target market?

a. (Make a conscious choice of the type of clientele desired. b. (Access client files to determine who is presently using the services and what they have in common.

Which federal regulations must be observed when operating a massage business with employees?

a. (Social Security b. (unemployment compensation insurance c. (federal income tax

1. List five marketing activities.

a. (advertising b. (public relations c. (promotionals d. (developing referrals e. (client retention

Give four examples of promotional materials.

a. (business cards b. (brochures c. (newsletters d. (stationery

Information that is included in each entry of the disbursement ledger includes

a. (check number for cash indication b. (date payment was made C. (payee d. (amount of payment e. (category of expense

For a self-employed massage practitioner, which three major records should be maintained?

a. (client files b. (income from products and services c. (expenses and disbursements

List four ways to promote business through public relations.

a. (news releases in the local paper about awards or certifications received or classes offered b. giving talks or demonstrations to local clubs, organizations, or schools c. (being a guest on a radio or television talk show d. (networking at professional business gatherings such as the local chamber of commerce

Give three examples of promotional activities.

a. (public speaking and appearances b. (articles in newspapers and professional magazines c. (booths at health fairs and other public functions

Which state regulations must be observed when operating a massage business?

a. (sales tax b. (state income tax c. (state massage licenses or regulations d. (workers' compensation e. (employment regulations

What are two main sources for obtaining referrals?

a. (satisfied clients b. (other health care professionals

Two important reasons for keeping accurate financial records are

a. (tax purposes b. (to determine the business' financial situation

List at least three important considerations when buying an established business.

a. (that it has a good reputation b. (that it has an established clientele c. (that it is worth the asking price

Name ten things that should be included on an income receipt or invoice.

a. (the business name b. (the date of service c. (the client's name land addressl d. (a description of the services given e. (amount charged for services

What are two objectives of promotional activities?

a. (to become known and visible to those in the community that might seek service b. (to create the desire in potential clients to use the services

What are the three Rs of referrals?

a. Reauest referrals from satisfied clients and professionals b. (Reward those who send referrals with prompt thank-you cards or personal phone calls. c. (Reciprocate by sending referrals or using the services of those who send them.

Name four important parts of business planning.

a. developing a mission statement b. (clarifying the purpose c. (setting goals d. (determining priorities

What is usually kept in a client record?

a. intake information) b. (session documentation C. record of payment)

The marketing activity done in return for direct payment is called

advertising

Which moneys are deposited in the business account?

all incoming moneys to the business)

Your public image includes all of the following

appearance , business conduct , customer relations

provides medical and liability insurance to the driver and any passengers

automobile insurance

Clarifying your business's purpose, stating a mission, setting goals, and determining priorities is called

business planning

A business that has stockholders is called a

corporation

protects the person from loss of income because they are unable to work because of long-term lness or injury

disability insurance

A ledger that separates and classifies every business expenditure is called

disbursement record

When buying an existing business, make sure it is.

expansion , failure , insurance

Name ten things that should be included on an income receipt or invoice.

f. (a description of goods sold g. (amount charged for the goods sold h. (amount of sales tax i. (the total j. (a space to indicate the date paid

Undercapitalization and poor management are the two main reasons for smal business.

failure

Social Security and unemployment compensation are two regulations of the

federal government

covers the cost of fixtures, furniture, equipment, products, and supplies

fire and theft insurance

helps to cover the cost of medical bills, especially hospitalization, serious injury, or illness

health insurance

A person hired on as her own boss is called a/an

independent

The insurance that covers costs of injuries occurring on your property and any resulting litigation is called

liability

covers costs of injuries and litigation resulting from injuries sustained on the owner's property

liability insurance

A positive self-image means that you

like yourself and what you do

Insurance that protects the therapist from lawsuits filed by a client because of injury or loss from negligence or poor execution of a professional skill is called

malpractice

A short, general statement of the business's main focus is called a/an

mission statement

Developing personal and professional contacts for the purpose of giving and receiving support and sharing information is called

networking

The best and least expensive way to create new business is through

referrals

All of the following are business expenses

rent , advertising , supplies

A business that has one owner is called a

sole proprietorship

Sales taxes, licenses, and workers' compensation are required by

state government

Insurance that covers the medical costs for employees injured on the job is called insurance

workers' compensation

covers the medical costs for the employee if they are injured on the job

workers' compensation insurance

is required if you have employees

workers' compensation insurance

clarifying

분명히 하다

operations

운영

existence

존재, 현존