Question

why is it important for business owners to have an understanding of the types of insurance, tax, and contracts they are responsible for managing?
it is important to effectively communicate with the team of experts about the business.
it is important to protect the business from potential lawsuits.
it is important to hire the right professionals to help manage different aspects of the business.
it is important to make sure the assembled team of experts is effectively doing the jobs they were hired to do.
all of these
question 55
1 pts
which of the following is not a reasonable risk an entrepreneur might encounter?
the loss of money they invested in the business from their savings.
being sued and losing your life savings because the business was not correctly filed to limit liability.
being uncomfortable talking to strangers to find customers and clients.
none of the above, entrepreneurs do not face risk.

Explanation:

For the first question, understanding insurance, tax, and contracts helps in communication with experts, protecting from lawsuits, hiring right professionals, and ensuring team - effectiveness. For the second question, entrepreneurs face risks like financial loss, legal issues, and discomfort in customer - finding.

Answer:

First question: E. All of these
Second question: D. None of the above, entrepreneurs do not face risk