A company has the following production costs: Raw material $5/unit Produces 100 units per month Warehouse rent is $500,000 What would be the total cost of production if it produced 125 units, what would be the total variable cost, and what would be the fixed unit cost?
Answers
The fixed unit cost for producing 125 units would be $4,000/unit, the total variable cost would be $625, and the total cost of production would be $500,625.
To calculate the total cost of production, we need to consider both the variable cost and the fixed cost. The variable cost is determined by the raw material cost per unit, and the fixed cost is the warehouse rent.
Variable Cost = Raw material cost per unit × Number of units
Variable Cost = $5/unit × 125 units = $625
Fixed Cost = Warehouse rent
Fixed Cost = $500,000
Total Cost of Production = Variable Cost + Fixed Cost
Total Cost of Production = $625 + $500,000 = $500,625
Therefore, the total cost of production for producing 125 units would be $500,625.
The total variable cost is the cost that varies with the number of units produced. In this case, it is the variable cost calculated above.
Total Variable Cost = Variable Cost
Total Variable Cost = $625
Therefore, the total variable cost for producing 125 units would be $625.
The fixed unit cost is the fixed cost divided by the number of units produced.
Fixed Unit Cost = Fixed Cost / Number of units
Fixed Unit Cost = $500,000 / 125 units = $4,000/unit
Therefore, the fixed unit cost for producing 125 units would be $4,000/unit.
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Related Questions
If student loans are such a problem, why do you think so many students borrow money?.
Answers
Students borrow money although student loans are such a problem because college tuition has grown a lot faster than income. They don't have the money needed to continue their education, therefore needing to take a loan.
A student loan is a loan a student took to pay for higher education expenses, such as tuition, supplies, books, and living expenses. In the U.S., college costs (and all its related expenses) are getting very expensive at a much faster rate than income, especially compared to other wealthy countries that have subsidized education. Most people who took student loans for their higher education are having difficulties in saving, which result in them hardly being able to afford a house. They are also less likely to take out car loans.
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Gold has historically functioned as money. This is due, in part, to the willingness of others to accept it as valid payment for goods and
services. In this case, gold is functioning as an) (1 point)
Answers
The willingness of others to accept gold as a valid payment for goods and services made gold a medium of exchange. In other words, gold was used to facilitate commercial exchanges when these became more developed.
Money has changed and developed over time, it has always been used to make business practices more simplified and standardized.
Some examples of the use of a medium of exchange were salt, which was a rare mineral that was offered in trade, hence the word salary.
Therefore, gold began to be used as a means of exchange from the need to use coins with greater durability.
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Your job is to cold call people and sell
them life insurance. You do some
research and find out that the life
insurance policy could be purchased
cheaper online. Your boss forbids you
to tell the customer this and expects
you to sign up at least 5 new
customers per day.
What will you do?
Answers
I believe I would be cheating customers if I don't do right by them. I would prefer to look for a new job than do something that is ethically wrong and against my morals.
As an employee, I would first try to figure out a way to do right by the customers and reduce the insurance fee. I would try to explain to my boss how we could benefit and increase our customer base if we reduce the fees.
If I fail at getting the price change. I would try looking for a new job that fits well with my morals. Till the time I get a new job, I would try working the same job and explaining to the boss.
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Consumer products are classified based on the attributes used in making the purchase decision, the effort spent by the consumer, and the.
Answers
Consumer Products are categorised based on the criteria used to make the decision to buy, the consumer's effort, and the frequency of purchases.
What are Consumer Products?
Products that are purchased by people or households for personal use are referred to as consumer products or final goods. Customer products are therefore things that the typical consumer purchases for personal consumption. There are four major categories of consumer items, each with its own marketing considerations. Consumer goods are items purchased by the typical consumer for personal use. Consumer products are the end product of production and manufacturing and are often referred to as final goods. Examples of common consumer goods are clothing, food items, and dishwashers.The Consumer Product Safety Act of 1972 established U.S. law and controls the sale of most common consumer items.To know more about Consumer Products visit:
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which significant event triggered the rapid and continuing growth in the demand for higher education in texas?
Answers
The end of World War II triggered the rapid and continuing growth in the demand for higher education in Texas.
In Texas, higher education is provided by a number of public and private institutions. The Texas Higher Education Coordinating Board is the state agency responsible for coordinating higher education in Texas.
The Coordinating Board oversees the state's public university system, which includes nine universities and two health-related institutions. The Board is committed to ensuring that all Texans have access to the resources and opportunities they need to succeed in higher education
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Present and future values for different interest rates find the following values. compounding/discounting occurs annually. a. an initial $200 compounded for 10 years at 4% b. an initial $200 compounded for 10 years at 8% c. the present value of $200 due in 10 years at 4% d. the present value of $1,870 due in 10 years at 8% and at 4% e. define present value and illustrate it using a time line with data from part d. how are present values affected by interest rates?
Answers
a.The future value for the interest rate of 4% is $296.05
b. The future value for the interest rate of 8% is $431.78
c. The present value for the interest rate of 4% is $135.13
d. The present value $1,870 due in 10 years at 8% and at 4% is $869.76, $1263.51 respectively.
What is future value?The value of an investment at a given point in the future is known as future value, on the other hand.The worth of an asset at a future date is its future value. It calculates the nominal future sum of money that a certain amount of money is "worth" at a given point in the future under the assumption of a specific interest rate, or more generally, rate of return; it is the present value multiplied by the accumulation function. Investors and financial planners consider the future value significant because they use it to determine how much an investment made today will be worth.FV = P \((1 + r)^n\)
FV = Future value
P = Present value
R = interest rate
N = time
a. 200 x \((1.04)^{10}\) = $296.05
b. 200 x \((1.08)^{10}\) = $431.78
PV = f /\((1 + r)^n\)
c. $200/ \((1.04)^{10}\)= $135.13
d. $1,870 / \((1.08)^{10}\)= $869.76
$2515 / \((1.04)^{10}\) = $1263.51
e. The present and future value serve as the foundation for the time value of money idea. The value of an investment in the present day is its present value.
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One popular system for defining effective goals uses the acronym SMART, which stands for?
Answers
Answer: Specific, Measurable, Achievable, Relevant, Timely
A SWOT analysis helps companies put a priority on market research.
O True
O False
Answers
True
Which of the following statements is correct? The dead weight loss caused by monopoly
Answers
which of these is an example of separation of powers?
the president enforces a law passed by congress.
representatives hold hearings to hear public opinion.
representatives rewrite a bill in committee meetings.
the president fires a cabinet member who is performing poorly.
Answers
I would say The president enforcing a law passed by Congress is an example of separation of powers.
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Which action should a job seeker take prior to an interview?
A.
send a follow-up letter
B.
place a call to confirm the interview
C.
send an email asking job-related queries
D.
research the employer or company
E.
inform the employer about your references
Answers
Answer:
D. research the employer or company
Explanation:
A good and recommended way to prepare for a job interview is to research the company they want to join. Understanding as much as possible about the company gives one confidence in the interview room. Knowledge about its products and services helps answer questions and formulate the questions to ask.
One should also research what the company expects of them in their role. This information gives one an edge over the other candidates in the interview.
Answer: place a call to confirm the interview
Explanation:
I apologize if that’s wrong but I think that’s the right one
Ell us about a time when your attention to detail was critical in preventing a major issue/error
Answers
Tell us about an error instance when your focus on detail was essential in avoiding a significant way is troubleshooting error.
The capacity to concentrate on a particular job while carefully considering and attending to all of its important features might be characterized as attention to detail. An illustration of paying attention to detail is finding and fixing any typos or grammatical problems in an email before sending it.
When describing anything that is more substantial, serious, or crucial than other elements within a group or circumstance, you use the word major. If the situation is casual, use the word "issue." You may use the word "issue" while discussing a political matter or a topic for a discussion. if the circumstance is official.
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Correct Question:
Tell us about a time when your attention to detail was critical in preventing a major issue/error.
If the cost of electricity doubles in the area where the Morgans live, which of the following is most likely to be
true?
A. It would be more advantageous for them to wash clothes at home and dry them at the laundromat.
B. It would be more advantageous for them to buy a washer and dryer to save money.
C. It would probably make no difference because the laundromat is likely to increase its prices to cover
increased costs.
D. It would be even more advantageous for them to use the laundromat rather than have a washer and
dryer at home.
5 of 10
Answers
If the cost of electricity doubles in the area where the Morgans live, It would probably make no difference because the laundromat is likely to increase its prices to cover increased costs. Option C. This is further explained below.
What is Pricing?Generally, Decide the payment amount for the service (something offered for sale).
In conclusion, Even if the price of power doubles where the Morgans reside, the laundromat's pricing will almost certainly rise to match the higher expenses.
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Explain about the problem solving skill?
Answers
Answer:
Problem solving skills refers to our ability to solve problems in an effective and timely manner without any impediments. It involves being able to identify and define the problem, generating alternative solutions, evaluating and selecting the best alternative, and implementing the selected solution.
effect of omitting adjusting entry the adjusting entry for accrued fees was omitted at the end of the current year. indicate which items will be in error, because of the omission, on (a) the income statement for the current year and (b) the balance sheet at the end of the year. also indicate whether the items in error will be overstated or understated.
Answers
The understatement of revenues, net income, assets (accounts receivable), and owner's equity results from the omission to record correcting entries for accrued fees.
At the conclusion of the current year, the impact of removing the adjusting item for accrued fees was removed. This implies that the omitted items—revenues, net income, assets (accounts receivable), and owner's equity—will contain errors.
a) An income statement shows the recurring revenues, expenses, and profitability of a company. It is also sometimes referred to as a profit-and-loss (P&L) or earnings statement. Your sales revenue for products and services is shown. Accounts Receivable, costs associated with running your business and making money.
b) Why is a balance sheet produced at the end of the year?
The balance sheet shows the financial condition of a company on December 31 at the end of an accounting period. A company's balance sheet reveals its: Assets (resources gained through previous deals) (resources that were acquired in past transactions) Liabilities (debts from customers and commitments) (obligations and customer deposits).
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A loan of $990 was repaid at the end of 6 months with a check for $1,010. What annual rate of interest was charged? The annual rate of interest was charged at %. (Round to two decimal places as needed
Answers
The annual rate of interest charged is approximately 4.04%.
To calculate the annual rate of interest charged, we can use the simple interest formula:
Interest = Principal x Rate x Time
Given that the loan amount (Principal) is $990, the repayment amount is $1,010, and the time is 6 months, we can calculate the interest as follows:
Interest = $1,010 - $990 = $20
Now, let's calculate the annual rate of interest using the formula:
Rate = (Interest / Principal) x (1 / Time) x 100
Rate = ($20 / $990) x (1 / (6/12)) x 100
Rate ≈ 4.04%
Therefore, the annual rate of interest charged is approximately 4.04%.
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The ability to reason well is necessary for modern workers because __________.
a.
Communication with other workers will be difficult
b.
Creativity is not valued in the modern workplace
c.
They will often have to solve problems with limited information
d.
Most problems will be straight-forward and easy to solve
Answers
Answer:
C. Or D.
Explanation:
Most Work problems are easy to solve depending on what is the cause of the situation. If you don't have the nesassary Resourses to solve that problem you must find out a way to work out that problem without what you need sometimes.
Answer: it’s C just took the Ed test
Explanation:
looking for some furniture for her new apartment, susan visits the local swap meet in search of something cheap. knowing that most swap meet vendors will not accept credit cards and that she will not have any money until her next payday, susan decides to take out a $200 cash advance on her credit card at an interest rate of 32%.
Answers
Susan is looking for cheap furniture for her new apartment, so she decides to visit the local swap meet. However, she knows that most vendors at the swap meet do not accept credit cards. Since she doesn't have any money until her next payday, she decides to take out a $200 cash advance on her credit card. The cash advance comes with an interest rate of 32%.
A cash advance is essentially borrowing money from your credit card. In Susan's case, she is borrowing $200. The interest rate of 32% means that for every year she takes to pay off the cash advance, she will owe an additional 32% of the borrowed amount. This is a relatively high interest rate compared to other forms of borrowing.
It's important for Susan to carefully consider the cost of borrowing and how long it will take her to repay the cash advance. She should also explore other options for obtaining furniture, such as saving up money or looking for second-hand items online. Taking on high-interest debt should be done cautiously and with a plan in place to repay it as quickly as possible.
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Susan takes out a $200 cash advance on her credit card at an interest rate of 32% to buy furniture at the swap meet. She cannot pay with a credit card at the swap meet and doesn't have cash until her next payday.
Susan decides to take out a cash advance on her credit card because she knows that most swap meet vendors do not accept credit cards. By taking out a $200 cash advance, she can have the cash on hand to make purchases at the swap meet. However, it's important to note that cash advances typically come with high interest rates, and in Susan's case, the interest rate is 32%. This means that if Susan doesn't pay off the cash advance quickly, she will accumulate interest on the borrowed amount.
In order to buy furniture at the local swap meet, Susan takes out a $200 cash advance on her credit card. The reason for this is that most swap meet vendors do not accept credit cards, and Susan wants to ensure she has the cash necessary to make her purchases. However, it's important to consider the terms of the cash advance. In this case, Susan's credit card has an interest rate of 32%. This means that if she doesn't pay off the $200 cash advance quickly, she will accumulate interest on the borrowed amount. Cash advances generally have higher interest rates compared to regular credit card purchases, so it's important for Susan to be mindful of this and pay off the balance as soon as possible to avoid excessive interest charges.
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The primary focus of financial statement audits is the discovery of fraud. True or False True False An error is considered material if it would trigger an IRS audit. True or False True False
Answers
False: Finding fraud is the main goal of financial statement audits.
A mistake is deemed substantial if it would result in an IRS audit. True.
What is one of the main goals of auditing?Finding the accuracy of the financial situation and profit and loss statements is the auditing's primary goal. Making sure that the accounts give a true and fair picture of the business and its transactions is the goal.
What constitutes an audit's essential components?The fundamental tenets of auditing include secrecy, objectivity, independence, skills and competence, work done by others, documentation, planning, audit evidence, accounting system, internal control, and audit reporting.
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1. Based on the profit-loss statement, does Rings and Things have a positive or negative cash flow?
Why?
Answers
Answer:
They have a negative cash flow.
Explanation:
Because their net operating activities is not breaking even, in other words, they are losing money.
Suppose that you start off in long run equilibrium, where LRAS, SR, and AD meet altogether in one point. Explain what happens to price, real GDP, inflation, and unemployment in each of the following cases:
(a) The interest rate falls;
(b) Wage rate temporarily falls;
(c) The dollar appreciates relative to foreign currencies;
(d) Businesses temporarily expect higher resource prices in the future;
(e) Business taxes rise
Answers
(a) When the interest rate falls, it stimulates borrowing and investment, leading to an increase in aggregate demand (AD). As a result, both price levels and real GDP will rise. The increase in aggregate demand will lead to upward pressure on prices, causing inflation to increase. With increased investment and economic activity, unemployment is likely to decrease as businesses expand and create more job opportunities.
(b) If the wage rate temporarily falls, businesses' production costs decrease, leading to a decrease in their marginal cost (MC) and an increase in short-run aggregate supply (SRAS). As a result, both price levels and real GDP will increase. With lower production costs, businesses can lower their prices, which can lead to a decrease in inflation. However, the impact on unemployment depends on the elasticity of labor supply. If the wage decrease leads to a significant increase in labor supply, it could lead to an increase in employment and a decrease in unemployment.
(c) When the dollar appreciates relative to foreign currencies, it makes imports relatively cheaper and exports relatively more expensive. This leads to a decrease in net exports, reducing aggregate demand (AD). As a result, both price levels and real GDP will decrease. With decreased aggregate demand, inflation is likely to decrease. The decrease in economic activity can also lead to an increase in unemployment as businesses may reduce production and cut jobs.
(d) If businesses temporarily expect higher resource prices in the future, it can lead to an increase in their costs of production. This will result in a decrease in short-run aggregate supply (SRAS), leading to higher price levels and lower real GDP. With higher production costs, businesses may pass on the cost increases to consumers, leading to higher inflation. The impact on unemployment depends on the extent to which businesses adjust their production and hiring plans in response to the expected higher resource prices.
(e) When business taxes rise, it increases the cost of production for businesses. This leads to a decrease in short-run aggregate supply (SRAS), causing price levels to increase and real GDP to decrease. Higher production costs can lead to higher inflation as businesses pass on the tax burden to consumers. The increase in production costs may also result in businesses reducing their output and cutting jobs, leading to an increase in unemployment.
It's important to note that these are simplified explanations and the actual impact of these factors can be influenced by various other economic conditions and factors. Additionally, the magnitude and duration of the effects can vary depending on the specific circumstances and the overall state of the economy.
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Greg and Jerry are depositing money into savings accounts. Greg deposits $500 into an account
for 2 years with 2% interest. Jerry despots $700 into a different account for 1 year with 3% interest.
Who eams the greatest overall percent interest? Show your work and explain.
Answers
Answer: Jerry
Explanation:
Greg deposits $500 into an account for 2 years with 2% interest, the interest gotten will be:
= $500 × 2 × 2%
= $500 × 2 × 0.02
= $20
Jerry despots $700 into a different account for 1 year with 3% interest, the interest gotten will be:
= $700 × 1 × 3%
= $700 × 1 × 0.03
= $21
Based on the calculation, Jerry makes a greater interest.
How to convince people to buy your wine.
Answers
Answer and Explanation:
Talk them into it..
Answer:
either make an ad, or make the wine actually delicous and do not click-bait. click-baiting will have your chances on people buying your wine to a lower chance.
path-goal leadership suggests that . group of answer choices leaders need to choose a leadership style that best fits the needs of their followers and the type of work they are doing leaders should allow followers to struggle with their problems and not interfere, unless imminent organizational failure will happen there is one correct path and one correct goal for every situation and follower all of these
Answers
The correct answer is a) Leaders need to choose a leadership style that best fits the needs of their followers and the type of work they are doing.
Path-goal leadership theory suggests that leaders should adapt their leadership style to provide guidance and support that aligns with the needs and characteristics of their followers, as well as the requirements of the task at hand.
The leader's role is to facilitate the achievement of goals by removing obstacles and clarifying paths to success. This approach acknowledges the importance of considering follower characteristics, work context, and individual needs when determining the most effective leadership style.
The correct option is a).
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GE made a decision not to build a dam in Myanmar, even though it would have generated a huge amount of money. Their environmental research showed that a dam would displace thousands of farmers and affect many species adversely. The verdict was that more animal and human life would be hurt than helped. Yet the Myanmar government supported the dam construction. Where was GE on the "Ethical Pyramid?"
1. Philanthropic
2. Ethical
3. Legal
4. Economic
5. I don’t know what the "Ethical Pyramid" is so I will presume that this is a trick question....right?
Answers
The "Ethical Pyramid" consists of four different levels of responsibilities.
They are:
Economic, Legal, Ethical, and Philanthropic.
GE made a decision not to build a dam in Myanmar, even though it would have generated a huge amount of money, but the Myanmar government supported the dam construction.
GE was on the ethical level of the Ethical Pyramid since they made the right decision not to build the dam in Myanmar because the environmental research showed that the dam would displace thousands of farmers and affect many species adversely.
The verdict was that more animal and human life would be hurt than helped.
Despite the fact that it would have generated a lot of money, they chose not to pursue it since it would have resulted in more harm than benefit.
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On January 1, the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720.
Answers
Complete Question:
On January 1, the first day of the fiscal year, a company issues a $1,450,000, 5%, five-year bond that pays semiannual interest of $36,250 ($1,450,000 × 5% × ½), receiving cash of $1,408,720
Journalize the first interest payment and the amortization of the related bond discount using the Straight line method
Answer:
Kindly check Explanation
Explanation:
Given the following :
Face value of bond issued = $1,450,000
Cash received on Issuance = $1,408,720
Number of Interest payment on bond = 5 × 2 = 10(semiannual)
Therefore, discount on bond :
$(1,450,000 - 1,408,720) = $41,280
Spreading or amortizing diacou t on bond over the bond duration (use te straight line method)
Discount / period
$41,280 / 10 = $4,128
Interest expense a/c Dr $40,378
To discount on bond payable a/c Cr $4128
To cash a/c $36,250
how do you do you do a budget
Answers
Note your net income
The first step in creating a budget is to identify the amount of money you have coming in. Remember to subtract your deductions, such as for Social Security, taxes, 401 and flexible spending account allocations, when creating a budget worksheet. Your final take-home pay is called net income, and that is the number you should use when creating a budget.
Track your spending
It’s helpful to keep track of and categorize your spending so you know where you can make adjustments. Doing so will help you identify what you are spending the most money on and where it might be easiest to cut back. Begin by listing all your fixed expenses. These are regular monthly bills such as rent or mortgage, utilities or car payments.
It’s unlikely you’ll be able to cut back on these, but knowing how much of your monthly income they take up can be helpful.
Set your goals
Long-term goals, such as saving for retirement or your child’s education, may take years to reach. Remember, your goals don’t have to be set in stone, but identifying your priorities before you start planning a budget will help.
Make a plan
With your fixed expenses, you can predict fairly accurately how much you’ll have to budget for. Use your past spending habits as a guide when trying to predict your variable expenses. You might choose to break down your expenses even further, between things you need to have and things you want to have.
Adjust your habits if necessary
Once you’ve done all this, you have what you need to complete your budget. Having documented your income and spending, you can start to see where you have money left over or where you can cut back so that you have money to put toward your goals. Want-to-have expenses are the first area to look for spending cuts. Try adjusting the numbers you’ve tracked to see how much money that frees up.
Lastly, if the numbers still aren’t adding up, you can look at adjusting your fixed expenses. You might be surprised at how much extra money you accumulate by making one minor adjustment at a time.
Keep checking in
Whatever the reason, keep checking in with your budget following the steps above.
Answer:
i do not know
Explanation:
How much profit was generated by the sales of gold label and black label combined
Answers
The total profit from the sales of the black sale and gold label is $5750.
The data for the gold label and black label is included in the table.
You can compute the gold label's profit as,
Profit from gold label = number of bottles sold × average profit
Given that 1000 bottles of the gold label with an average profit per bottle is $2.75 have been sold.
Now, determine the profit generated by bottles with gold labels as,
Profit from gold label = 1000 × $2.75
= $2,750
Black Label's profit can be computed as follows:
Profit from black label = number of bottles sold × average profit
It is assumed that 2000 bottles of black label, with an average profit of $1.50 per bottle, have been sold.
Calculating the profit generated by bottles with black labels as follows:
Profit from gold label = 2000 × $1.50
= $3,000
Next, calculate the combined revenue from sales of the gold label and black label as follows:
Combined profit = Gold label profit + Black label profit
= $2,750 +$3,000
= $5,750
Hence, $5,750 is the correct answer.
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Please help
9. Describe preventing/controlling risk in relation to how businesses deal with each of the
following:
a. Safety-
b. Security-
c. Employee incompetence-
d. Product selection-
e. Credit-
f. Changes-
g. Weather extremes-
Answers
a. Safety - Businesses can prevent and control risks related to safety by implementing safety protocols and guidelines, providing adequate training to employees, regularly inspecting equipment and facilities, and promptly addressing any safety concerns.
b. Security - Businesses can prevent and control risks related to security by implementing access control measures, using security cameras and alarms, regularly reviewing and updating their security policies, and training employees on how to identify and respond to security threats.
c. Employee incompetence - Businesses can prevent and control risks related to employee incompetence by providing thorough training and development programs, setting clear performance expectations, and regularly monitoring employee performance and providing feedback.
d. Product selection - Businesses can prevent and control risks related to product selection by conducting thorough research on products, identifying potential risks and liabilities associated with them, and regularly reviewing and updating their product selection policies.
e. Credit - Businesses can prevent and control risks related to credit by establishing credit policies and procedures, conducting credit checks on customers, setting credit limits, and regularly monitoring accounts receivable.
f. Changes - Businesses can prevent and control risks related to changes by conducting thorough risk assessments before implementing any changes, communicating changes to stakeholders, establishing contingency plans, and regularly reviewing and updating their change management policies.
g. Weather extremes - Businesses can prevent and control risks related to weather extremes by implementing weather emergency protocols, regularly monitoring weather forecasts, having emergency supplies on hand, and regularly reviewing and updating their weather emergency plans.
\( \: \)
Preventing and controlling risk in business involves implementing various strategies for different aspects such as safety, security, employee competence, product selection, credit, changes, and weather extremes.
Explanation:Preventing/Controlling Risk in BusinessSafety: Businesses can prevent safety risks by implementing safety measures such as providing proper training, enforcing safety protocols, and conducting regular inspections.Security: Businesses can control security risks by installing security systems, implementing access control measures, and conducting background checks on employees.Employee incompetence: Businesses can prevent employee incompetence risks by providing comprehensive training programs, establishing clear performance expectations, and conducting periodic performance evaluations.Product selection: Businesses can control product selection risks by conducting thorough market research, partnering with reputable suppliers, and performing product testing.Credit: Businesses can prevent credit risks by setting strict credit policies, conducting credit checks on customers, and implementing effective collection procedures.Changes: Businesses can control risks associated with changes by implementing change management strategies, communicating effectively with stakeholders, and conducting impact assessments.Weather extremes: Businesses can prevent or mitigate risks associated with weather extremes by implementing weather monitoring systems, having emergency response plans in place, and investing in appropriate insurance coverage.Learn more about Risk management in business here:https://brainly.com/question/33515955
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