Business Risks and Insurance — Practice Quiz
ICSE · Class 11 · Commerce
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Quick Quiz: Business Risks and Insurance
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What is the best definition of business risk in commerce?
Who defined risk as 'uncertainty regarding a loss'?
Which statement correctly gives Wheeler's definition of risk?
Which of the following is one of the three kinds of risks a businessman has to bear?
Sample Questions
Which statement about business and risk is correct?
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There can be no business without risk
Risk is an essential part of business, so business cannot exist without it.
What is the reward of risk in business?
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Profit
Profit is described as the reward for risk taking in business.
Which type of risk is related to inefficient management inside a firm?
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Internal risk
Inefficient management is a cause of internal risk because it arises within the firm.
Which of the following is an example of external risk?
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Government policy
Government policy is an external cause of business risk because it comes from outside the firm.
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