________ is the armor individuals, businesses, and nonprofit organizations use to protect themselves from various financial risks.
A) A good accountant
B) Investment in AAA bonds
C) Insurance
D) Indemnity

Question

Quizplus · Accepted Answer

Insurance is the standard protection used by individuals, businesses, and nonprofit organizations to mitigate financial risks. It helps them transfer the risks to an insurance company, which takes on the financial burden in the event of a loss or damage. Insurance covers a wide range of risks, including property damage, liability, loss of income, and health-related issues. A good accountant and investment in AAA bonds may help with financial management, but they do not provide the same level of protection as insurance. Indemnity refers to a contractual arrangement where one party agrees to compensate the other party for any losses, typically caused by the first party's actions or omissions. It is a form of insurance, but not all insurance policies include indemnity clauses.

________ Is the Armor Individuals, Businesses, and Nonprofit Organizations Use