All the Following Are Objectives of Risk Management Except

question 28

Multiple Choice

All the following are objectives of risk management except?

• A)to insure all exposures to loss
• B)to make efficient before the loss arrangements for an after the loss balance between resources needed and resources required to preserve operating effectiveness
• C)eliminate duplicate insurance coverage
• D)develop and maintain plant safety program

Recognize the classifications of quality costs within a quality cost report.

Grasp the importance of aligning improvement efforts with performance measures on the balanced scorecard.

Understand the various categories of quality costs: prevention, appraisal, internal failure, and external failure.

Identify specific examples of prevention costs in quality management.

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Definitions:

Contribution Margin

The selling price per unit, minus the variable cost per unit, which helps in determining the profitability of products.

Break-even Chart

A graphical representation that shows the point at which total costs and total revenue are equal, indicating no net loss or gain.

Total Revenue

The total amount of money generated by a business from its sales of goods or services before any expenses are subtracted.

Total Cost

The complete amount of money spent on the production of goods or services, including all variable and fixed costs.