All the Following Are Problems of Risk Management Information Systems

question 29

Multiple Choice

All the following are problems of risk management information systems (RMIS) except:

• A)can generate massive amount of reports and data and slow down analysis
• B)data inaccuracy and integrity can cause false reports
• C)the speed of generating and the usefulness of the information can slow most analysis down
• D)the large number of variables that need to be tracked can be difficult to isolate

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Definitions:

Total Manufacturing Costs

The aggregate of expenses related to producing goods, including raw materials, labor, and overhead costs.

Work in Process Inventory

Products that are in the manufacturing process but are not yet complete, considered a current asset on the balance sheet.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, taxes, and interest payments.

Operating Expenses

Costs related to the day-to-day functions of a business outside of direct production costs, such as rent, salaries, and utilities.