Hazardis the cause of a possible loss.is loss possibilities due to negligence resulting in bodily harm or property damage to others.is a risk that carries a chance of either loss or gain.increases the likelihood of loss through some peril.is the chance that something may be lost.

Risk is an important term associated with organizations and environment. It indicates the likelihood…

Answered: Hazard is the cause of a possible loss.…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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All the answers below are reasons for performing risk management EXCEPT. O a. Planning for known and unknown events O b. Ensure the occurrence of opportunities. O c. Elimination of issues O d. Reduce the impact of threats
About 8% of the U.S. population catches the flu each season. Assuming everyone has equal probability of catching the flu, about what are the odds of catching the flu in a given season? 1. 1 in 8 2. 1 in 12 3. 1 in 18 4. 1 in 80
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What are the differences between risk management procedures and the other four forms of audit tests?
Which types of events are considered part of a comprehensive risk management plan? Select all that apply, then click Submit below Marriage Illness Liability Disability Death Deductible Property loss
In the Ogden Tables for Personal Injury, what does the discount rate represent? a. The severity of the injury b.The rate of inflation from now until the injured person's retirement c.How many years the injured person is expected to live? d. The expected rate of return on investment
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Choose an alternative which shows the risk of material misstatement in the financial statements arising due to error or omission as a result of lapse of control? a. Control risk b. None of the options c. Detection risk d. Inherent risk
Effective risk management would attempt to maximize the expected return for a given level of risk. Select one: True False

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Hazard is the cause of a possible loss. is loss possibilities due to negligence resulting in bodily harm or property damage to others. is a risk that carries a chance of either loss or gain. increases the likelihood of loss through some peril. is the chance that something may be lost.