Tasmina Has Started Her Own Business Insurance Software Firm

question 95

Multiple Choice

Tasmina has started her own business insurance software firm.She cannot afford a market research firm to keep track of what her business rivals are doing.With her shoestring budget, Tasmina's best option to research this problem would be:

• A)consulting census data.
• B)visiting competitors' websites.
• C)using competitors' software.
• D)asking the Chamber of Commerce for assistance.
• E)checking SEC filings.

---

Definitions:

Accounts Payable

Money owed by a business to its suppliers for goods or services received that have not been paid for.

Current Liability

A company's debts or obligations that are due to be paid to creditors within one year.

Shortage Costs

Expenses incurred from not having enough inventory on hand, including lost sales, backorder processing, and dissatisfied customers.

Carrying Costs

Expenses associated with holding or storing inventory, including insurance, storage, depreciation, and opportunity costs.