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Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks

Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks b. Management uses Cost Volume Profit (CPV) analysis as a planning process to predict the future volume of activity, costs incurred, sales made and profit received. Required: i. List and explain FIVE assumptions in C-V-P analysis c. Discuss in detail Five benefits and drawbacks of throughput accounting.
Transcribed Image Text:Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks b. Management uses Cost Volume Profit (CPV) analysis as a planning process to predict the future volume of activity, costs incurred, sales made and profit received. Required: i. List and explain FIVE assumptions in C-V-P analysis c. Discuss in detail Five benefits and drawbacks of throughput accounting.
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