The Phrase "General Liability" Is Used to Refer to the Legal

question 38

Multiple Choice

The phrase "general liability" is used to refer to the legal liability of a business arising from all of the following EXCEPT

• A)employees injured on the job.
• B)defective products.
• C)liability assumed by contract.
• D)completed operations.

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Definitions:

Strategic Planning

Strategic planning involves defining an organization's strategy or direction and making decisions on allocating its resources to pursue this strategy, considering long-term growth and success.

Financial Statement Forecasting

The process of projecting future financial outcomes by analyzing historical data and current trends.

Sales Forecast

An estimate of the quantity of goods or services a company believes it will sell in a specific period.

Budgeting Process

The budgeting process is a systematic approach to creating a financial plan for a defined period, detailing an organization's projected revenues, expenses, and cash flows.