Chapter 23 Review Questions | Milady's Standard Professional Barbering
 Chapter 23 Review Questions     Identify two ways a barber may be self-employed in the barbershop. Independent contractor or Booth renter    Define booth rental. A form of self-employment, business ownership, and tax designation with certain responsibilities for bookkeeping, taxes, insurances, and so forth    List and define six types of ownership under which a business may operate.       Sole proprietor - Business structure with a single owner and manager of a business    Partnership - Business structure in which two or more people share ownership, although not necessarily equally    Corporation - Business ownership shared by three or more people, called stockholders    Limited Liability Company - Provides owners with protection from acts or debts associated with the company    S-Corporation - Business entity with features similar to a corporate structure that allows company income to be reported through the owners’ personal income tax returns like a limited liability company    ...