One of the major problems of a sole proprietor is sourcing for?
raw materials
labour
machineries
funds
Correct answer is D
The source of capital for a sole proprietorship business is provided by the owner of the business. Sourcing for capital has always been a major problem faced by sole proprietors.
Warehousing is important to manufacturers because it helps to?
improve the quality of goods
produce goods in advance
meet the demand of customers
determine input rquirements
Correct answer is B
Warehousing is the act of storing products or goods to distribute or sell it later. One of the most important uses of a warehouse is, it enables the manufacturers to store goods in advance of demand.
Warehousing allows for timely delivery and optimized distribution, leading to increased labor productivity and greater customer satisfaction.
One major advantage of transportation to a business is to?
extend the firm's market coverage
ensure that goods are produced faster
procure raw materials cheaply
ensure the quality of products
Correct answer is A
With transportation in business, a firm is sure of its products and services reaching the designated consumers. Remember, production is complete at the point where goods get to the final consumer, and the only way consumers can come in contact with the produced goods is through the transportation of the goods.
The most important reason for the existence of insurance business is to?
prevent the occurrence of any loss
spread losses to all covered participants
provide for the replacement of facilities
encourage individuals to save
Correct answer is B
Insurance companies exist to provide financial protection from losses that can occur during normal business operations.
A risk that can be estimated and calculated to be compensation is?
a delivery risk
an insurable risk
a credit risk
a systematic risk
Correct answer is B
Insurable risks are risks that insurance companies will protect you against because it is possible to estimate and calculate the loss.