EC 003 Review

Which of the following is a pure business risk:

When a business keeps a risk because management is unaware of it, the business is __________ the risk.

Businesses can protect themselves from the risk associated with lost shipments by

What category of business risk includes production problems and incompetent employees?

Mgmt decides to hold its meeting in one city rather than another because of crime. This is an example of _ the risk

Having well-planned buildings and providing effective employee training are ways that a business can ____business risks.

If a risk is small in terms of money, a business may decide to __________ the risk.

When a rival’s product reduces sales of your company’s product, your company is experiencing strategic risk caused by

A garden store customer tripped over a plant, fell, and sued the store for damages. This is an example of a(n) ____risk.

A hurricane that destroys a business is an example of a(n) __________ risk.

Requiring a contractor to purchase a surety bond is an example of handling business risk by __________ the risk.

Contractual agreements such as guarantees, surety bonds, and leases are examples of business risks being handled through

The general classifications of business risks are

The act of reducing or removing risks by shifting the risk factor to another person or business is referred to as _risk.

People who go into business know that the business may not succeed. This possibility is referred to as business

Financial loss from investing time and money to comply with accounting standards is an example of which strategic risk?

Which of the following is an example of a business risk that cannot be covered by insurance:

Careful screening of credit customers is an example of handling business risks through

A union strike that stops production at a manufacturing plant is a(n) __________ risk.

Carefully selecting goods or services to sell is an example of handling business risks by __________ the risk.