To Cover the Costs That Result If Some Aspect of the Business

question 14

Multiple Choice

To cover the costs that result if some aspect of the business causes harm to a third party or someone else's property,a firm would purchase:

• A)business interruption insurance.
• B)property insurance.
• C)business liability insurance.
• D)key personnel insurance.

---

Definitions:

Compa-Ratio

A metric that compares an individual's salary to the market average for similar positions.

Commissions

Payments made to employees or agents based on the sales or transactions they facilitate, typically a percentage of the sale value.

Merit Pay

A method of compensation where employees are paid based on their performance levels, often evaluated through a performance review process.

Compa-Ratio

A calculation used in human resources to compare an individual's salary to the midpoint of the market rate or salary range for their position.