What is the primary purpose of insurance in business? - SchoolNGR

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What is the primary purpose of insurance in business?

What is the primary purpose of insurance in business?

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Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A To increase profits
B To reduce operational costs
C To provide financial protection against risks
D To improve employee morale
E To enhance product quality

Correct Answer: Option C

Explanation:
Insurance provides financial protection against various business risks.

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