If a sudden loss occurs in an enterprise what will be the first step according to expert life skills?
Answer and explanation
Correct answer: Review the causes of loss, expense records, and potential risks
When a sudden loss occurs, the first appropriate step is to analyse the situation calmly. Reviewing expense records, sales, production costs, and risks helps identify the actual cause of the loss and supports corrective decisions. Immediately closing the enterprise is an emotional response, whereas review enables an evidence-based decision. Exam tip: In enterprise problem-solving questions, prefer analysing causes and checking records as the first step.
Frequently asked questions
What is the correct answer to this question?
Review the causes of loss, expense records, and potential risks
Why is this the correct answer?
When a sudden loss occurs, the first appropriate step is to analyse the situation calmly. Reviewing expense records, sales, production costs, and risks helps identify the actual cause of the loss and supports corrective decisions. Immediately closing the enterprise is an emotional response, whereas review enables an evidence-based decision. Exam tip: In enterprise problem-solving questions, prefer analysing causes and checking records as the first step.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Life skills for livelihood.
