DWI CPD Test: How To Protect Profitability In Tough Economic Conditions

1. What is one effective way to protect profitability during economic downturns?

Raise all employee salaries

Lower prices drastically

Control costs and expenses

Stop marketing completely

2. Why is monitoring cash flow important during tough economic times?

To avoid paying taxes

To invest more aggressively

To ensure you can meet obligations

To hide profits

3. Which is a good strategy to boost income when profits are falling?

Reduce operating hours

Diversify services or products

Hire more staff

Delay billing clients

4. How can technology help during difficult economic conditions?

Automate processes and reduce costs

Replace all human interaction

Make operations slower

Create more paperwork

5. What does “planning for different scenarios” allow businesses to do?

Waste time

Prepare for uncertain outcomes

Increase risk

Focus only on the present