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2 years ago

What common business mistake can cost you everything?

Business

2 answers:

disa [49]2 years ago

8 0

Answer:

Failure to buy adequate business insurance

Explanation:

velikii [3]2 years ago

5 0

<h3>Hello there!</h3>

Your question asks what is the common business mistake that can cost you everything.

<h3>Answer: Failure to buy adequate business insurance</h3>

The reason why "Failure to buy adequate business insurance" is the correct answer because anything can happen in a business, and if you don't have coverage for it, then you could lose the business and everything with it.

Owning and/or running a business is very time consuming and rough, and if you don't have the right coverage for the business, everything can go down the wrong path. From losing the building, to getting sued, a business could get shut down easily without insurance.

There are many different types of coverages/premiums that business owners could get for there business.

Coverages/Premiums:

Liability
Property Insurance
Compensation for workers
Etc.

Liability is a very important premium for a business, due to the fact that anyone in the business could cause some sort of damage to their or other's property. Therefore, they need coverage in order to be able to pay for those damages. If a business doesn't have this insurance, and someone damages something from someone else or their own, then that will be a huge financial cost for the business, and could possibly shut them down.

Property insurance is also another important thing for a business to have. This is important because you don't know if the property could one day burn down to the ground, and you would need insurance to cover those expenses. If you don't have this insurance, and something happens to the property, you could lose part of or the whole property, and that will cause a fortune for the business, maybe causing the business to shut down.

Compensation for workers is especially a very important premium for a business, since there might be a chance someone could get hurt while at work. If someone gets hurt at work, and you don't have insurance to cover their injuries, then they could sue the business for a lot of money due to the fact that they got hurt on the job, and it would be hard for the business to use their well-owned money to pay someone's hospital bill, and hospital bills are expensive, therefore it could lead the business to shutting down.

<h3>I hope this helps!</h3><h3>Best regards,</h3><h3>MasterInvestor</h3>

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The ledger of Shamrock, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries.

romanna [79]

Answer and Explanation:

The adjusting entries are as follows:

1 Insurance expense Dr $310

To Prepaid Insurance $310

(Being insurance expense is recorded)

2 Supplies expense Dr $1,650 ($2,610 - $960)

To Supplies $1,650

(Being supplies expense is recorded)

3 Depreciation expense Dr $150

To Accumulated Depreciation - Equipment $150

(Being depreciation expense is recorded)

4 Unearned service revenue Dr (two-fifth of $12,000) $4,800

To Service Revenue $4,800

(Being service revenue is recorded)

3 0

2 years ago

The laffer curve makes the point that cutting a very high marginal tax rate can __________ the tax base enough so that tax reven

Ivenika [448]

<span>The laffer curve makes the point that cutting a very high marginal tax rate can raise the tax base enough so that tax revenues actually rise. The Laffer Curve is a theory that was developed by Arthur Laffer. The theory explains the relationship between tax rates and how much tax revue the government creates. </span>

8 0

2 years ago

A loan of $100,000 is taken out which requires an annual interest payment of 6% of the borrowed amount of money (in market dolla

pav-90 [236]

Answer:

C. $5,150

Explanation:

Calculation for what will be the value of interest payment at the end of fifth year in real dollars

First step is to calculate the Interest amount per year

Interest amount per year = 100,000*6%

Interest amount per year = $6,000

Now let calculate the value of interest payment at the end of fifth year in real dollars

Value of interest payment in 5th year in real dollars = 6,000/(1+3.1%)^5

Value of interest payment in 5th year in real dollars= 6,000/1.164913

Value of interest payment in 5th year in real dollars= $5,150

Therefore the Value of interest payment in 5th year in real dollars will be $5,150

4 0

2 years ago

Consider the following events: a. A fruitworm infestation ruins a large number of apple orchards in the state of Washington. Thi

Vikentia [17]

Answer:

Both statements are true

Explanation:

Due to the worm infestation, there would be a fall in supply of apples, this would lead to a shift of the supply curve to the left

a fall in price in apples, would lead to a movement down along the supply curve.

Only a change in price of a good leads to a movement along the supply curve for the good, other factors lead to a shift of the supply curve

8 0

2 years ago

What do you think campbell should do to counter the competition and remain in the top of the soup business?

Ivenika [448]

I think Campbell should face the competition by just focusing only on their business. They should focus on how to provide a better quality soup business to their customers. They should make their customers feel very satisfied and happy. They should face the competitors by providing the customers good quality soup and also at a less price than that of the competitors.

This will help in attracting many customers and the customers will feel very happy coming to such a business where they get these benefits.

Thus, the best way to face any competition is to make yourself better enough in comparison to other competitors so that the soup business doesn't have to do anything to attract customers. Customers should come by their own willingness.

This will surely help Campbell to remain at the top of the business and earn more and more and achieve its goals and objectives.

Learn more about the soup business at

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3 0

1 year ago