Rob Bateman, the Owner of a Small Business, Bought a Basic

question 25

Multiple Choice

Rob Bateman, the owner of a small business, bought a basic fire insurance cover to insure his business against losses caused by accidental fires. Bateman's fire insurance policy can additionally be supplemented by a(n) _____ as an insurance against explosion, smoke damage, and windstorms.

• A) professional liability insurance
• B) fidelity bond
• C) surety bond
• D) extended-coverage endorsement

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Definitions:

Corporate Social Responsibility

A business model where companies integrate social and environmental concerns in their operations and interactions with their stakeholders.

Scope of Management

The range of activities, responsibilities, and functions that managers are required to perform in guiding an organization towards its objectives.

Home-Country Standards

The regulatory and legal requirements or cultural norms from an individual's or corporation's country of origin that influence their operations abroad.

Host-Country Standards

The regulations, customs, and practices that prevail in the country where a multinational company operates, as opposed to its home country standards.