Commerce Exam > Commerce Questions > Priyansh, a businessman is bearing a huge amo...
Start Learning for Free
Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?
- a)Technological factors
- b)Physical factors
- c)Human factors
- d)External factors
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
Priyansh, a businessman is bearing a huge amount of losses in his busi...
Factors responsible for the loss borne by Priyansh:
There are various factors that can contribute to the loss borne by Priyansh in his business. In this case, the responsible factor is identified as human factors.
Human factors:
- Inefficient credit control: Priyansh may have failed to implement effective credit control measures, resulting in bad debts and financial losses.
- Poor decision-making: Priyansh may have made poor decisions in extending credit to customers without conducting proper risk assessments or credit checks.
- Inadequate collection efforts: Priyansh may have neglected or failed to follow up on overdue payments, leading to increased bad debts.
- Lack of communication: Poor communication between Priyansh and his customers may have resulted in misunderstandings, delays in payments, and ultimately bad debts.
- Ineffective sales strategies: Priyansh may have employed inefficient sales strategies that failed to attract reliable customers and resulted in a higher number of bad debts.
It is important for Priyansh to address these human factors and implement measures to mitigate the risk of bad debts. This may include improving credit control procedures, conducting thorough credit checks, establishing clear communication channels with customers, and reassessing sales strategies to attract reliable customers.
View all questions of this test
There are various factors that can contribute to the loss borne by Priyansh in his business. In this case, the responsible factor is identified as human factors.
Human factors:
- Inefficient credit control: Priyansh may have failed to implement effective credit control measures, resulting in bad debts and financial losses.
- Poor decision-making: Priyansh may have made poor decisions in extending credit to customers without conducting proper risk assessments or credit checks.
- Inadequate collection efforts: Priyansh may have neglected or failed to follow up on overdue payments, leading to increased bad debts.
- Lack of communication: Poor communication between Priyansh and his customers may have resulted in misunderstandings, delays in payments, and ultimately bad debts.
- Ineffective sales strategies: Priyansh may have employed inefficient sales strategies that failed to attract reliable customers and resulted in a higher number of bad debts.
It is important for Priyansh to address these human factors and implement measures to mitigate the risk of bad debts. This may include improving credit control procedures, conducting thorough credit checks, establishing clear communication channels with customers, and reassessing sales strategies to attract reliable customers.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?
Question Description
Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?.
Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?.
Solutions for Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer?, a detailed solution for Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? has been provided alongside types of Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Priyansh, a businessman is bearing a huge amount of losses in his business because of bad debts. Which of the following factor is responsible for the loss borne by Priyansh?a)Technological factorsb)Physical factors c)Human factorsd)External factorsCorrect answer is option 'C'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup