Abby Is a Marketing Consultant Who Specializes in Small Businesses

question 56

Multiple Choice

Abby is a marketing consultant who specializes in small businesses. Her current client is very interested in estimating the costs for the coming year, in order to find the breakeven point. Abby knows this is an important financial statistic because below the breakeven point, the firm is operating

• A) with fixed costs only.
• B) with minimal variable costs.
• C) with no revenue.
• D) with minimal profit.
• E) at a loss.

Identify risk management strategies and their applications.

Comprehend the legal concepts related to insurance and liability.

Understand the process and benefits of making a household inventory.

Recognize the significance of personal liability and umbrella policies.

---

Definitions:

Organization's Official Position

The formally stated beliefs, policies, or stances of an organization on specific issues or topics.

Formal Business Plan

A formal business plan is a detailed document that outlines the objectives, strategies, market analysis, financial forecasts, and operational plans of a business.

Topical Organization

The arrangement of content or information based on subjects or themes.

Informational Reports

Documents providing data, facts, responses, and various forms of information, minus any analysis or recommendations.