The type of risk is associated with product innovations in the early stage that design thinking helps to mitigate is known as financial risk.
<h3>What is Risk?</h3>
Risk refers to the chance of happening something wrong. It involves the uncertainty about the after effects of the acts. For the businessman, risk is the reward for profit.
Financial risk can be defined as the risk associated with the regard of the funds in the organization. It arises at the time of the product development.
Therefore, it can be concluded that Financial risk is the sort of risk associated with early-stage new designs that creative thinking helps to reduce.
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Answer:
Cullumber Company
Balance Sheet
As at 2022
Explanation: Amount in $
Current Assets
Accounts Receivable 12,500
Cash 13,000
Prepaid Insurance 6,600
Supplies 4,600
Total Current Assets 36,700
Non-Current Assets
Equipment (225,000-36,900) 188,100
Total Assets <u> </u><u>224,800</u>
Liabilities & Shareholders' Equity
Current Liabilities
Accounts Payable 10,600
Notes Payable 65,000
Salaries Payable 3,900
Total Current Liabilities 79,500
Equity
Common Stocks 97,000
Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700) 64,300
Dividends (16,000)
Total Equity 145,300
Total Liabilities & shareholders' equity <u>224,800</u>
