Chapter 9 Flashcards
(10 cards)
1
Q
Plan B checklist:
A
- advisors
- organization
- licences/permits
- location
- auto
- equipment
- fixtures
- supplies
- inventory
- advertising/promotion
- banking
- employees
2
Q
What risks can be covered by insurance?
A
- personal injury
- employment practices
- loss to the business caused by death or disability
- loss or damage of property
- loss of income resulting from interruption of business
- consequential losses
- auto
3
Q
The type of insurance and coverage needed depends on:
A
- size of any potential loss
- probability of loss
- resources available
- probability of lawsuits
- professional requirements
4
Q
For home-based business insurance, ______ insurance for business purposes is a must.
A
Auto
5
Q
3 basic types of home insurance policies:
A
- Homeowner’s policy endorsement
- In-home business policy/program
- Business owners policy (BOP)
6
Q
What are the 2 basic levels of OH&S legislation?
A
- federal
- provincial
7
Q
OH&S legislation outlines:
A
Responsibilities of owners, supervisors, and workers
8
Q
4 broad categories of OH&S legal requirements:
A
- Government, employee, and employer responsibilities
- Joint Health and Safety Committees (JHSC)
- Workplace hazardous materials
- Due diligence
9
Q
Employee dishonesty examples:
A
- robbery/burglary
- fitting room theft
- counterfeit money
- fraudulent refunds
- bookkeeping theft
- cash register vulnerability
- shoplifting
- cheque deception
- credit card fraud
10
Q
Tips for getting advice and planning ahead:
A
- before you start your business: find a small business guru, establish an advisory board, network for a mentor or advisor
- anyone can be part of your team
- have a plan B
- plan ahead - get started on a start-up checklist
