Question

Name and explain tewo characteristics of bussiness which involve possiblity of loss

Answer 1

Answer:

The two characteristics of business which involve possibility of loss are :

(i) Uncertainty of return : There is always uncertainty of return and possibility of loss . Every businessman invests money in his / her business with the objective of earning profit . however , there is always a possibility of loss.

(ii) Element of risk : Risk implies the uncertainty of reward or the possibility of loss . there is always some element of risk involved in business because the future is uncertain . The risks are related to changes in consumer taste and fashions , strikes or lock - outs at the work place , increased competition , fire , theft , accidents , etc.

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Answer 2

Answer:

Ans). The two characteristics of business which involve possibility of laws are:

1) Uncertainty of return: there is always uncertainty of return and possibility of loss. Every businessman invest money in his/her business with the objective of earning profit. However, there is always a possibility of loss.

2) Element of risk: Risk implies the uncertainty of reward or the possibility of loss. There is always some element of risk involved in business because the future is uncertain. The risk are related to change in in consumer taste and fashions, strikes or lock-outs at the workplace, increased competition, fire, theft, accidents, etc.

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