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

question 102

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.
• E)damage insurance.

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Definitions:

Units

A measurement of quantity, used in various contexts to indicate the amount, volume, or number of items or elements.

Spending Variance

The variance between the anticipated budget for an expense and the actual expenditure.

Direct Materials

Raw materials that are directly used in the manufacturing of a product and are easily traceable to that product.

Client-Visits

The number of times clients or customers physically visit a business or service location, often used as a metric in service-based industries.