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Question
Justify the following statement.
Risk is inevitable in business activities.
Solution
- Every business is exposed to various risks. A businessman cannot avoid risks in the business.
- These risks include goods remaining unsold due to changes in fashions, risks of losses due to fire or theft damage to goods during transportation or warehousing, risks of bad debts, etc.
- A businessman has to be prepared to handle these risks.
- These risks cannot be totally eliminated. But they can be minimized or transferred to the insurance company A businessman must be ready for the risks as they are inevitable.
- Thus, the risk is inevitable in business activities.
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