____ Is a Defined Set of Actions to Prevent or Reduce

question 23

Multiple Choice

____ is a defined set of actions to prevent or reduce the likelihood of occurrence or the impact of a risk, or to implement if the risk event occurs.

• A) A risk response plan
• B) A risk assessment
• C) A risk management strategy
• D) A risk impact statement

---

Definitions:

Note Receivable

A financial asset representing a written promise to receive a specific amount of money on a certain date or on demand.

Payment of Account

The process of settling a liability or an amount owed to a creditor, vendor, or supplier by making a cash or electronic payment.

Accounts Receivable Turnover

A financial ratio that measures how efficiently a company collects revenue from its credit sales, calculated as sales divided by average accounts receivable.

Days' Sales in Receivables

A financial metric that estimates the average number of days it takes a company to collect payments after a sale has been made.