Ellayne manages a busy law practice as a sole practitioner.With regard to business risk management,where should serious consideration be given to have broad benefit for Ellayne?

Question

Quizplus · Accepted Answer

As a sole practitioner, Ellayne is entirely responsible for managing her law practice. Serious consideration should be given to the adverse effects of illness or incapacity, as this could greatly impact the continuity of the practice and potentially result in financial losses. Having appropriate risk management measures in place, such as disability insurance or having a plan in place for a temporary replacement, can help mitigate this risk. While the other options may also have some level of importance, they do not have as broad of a benefit for Ellayne's overall risk management strategy.

Ellayne Manages a Busy Law Practice as a Sole Practitioner