The Process of Deciding How to Approach,plan and Execute Risk

question 30

True/False

The process of deciding how to approach,plan and execute risk management activities for a project is known as Project Risk Absorption Methodology (PRAM).

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Definitions:

Original Entry

The initial recording of a financial transaction in the accounting records or journal.

General Journal

A basic accounting record where all types of transactions are initially recorded before being posted to specific accounts in the general ledger.

General Ledger

A complete record of all financial transactions over the life of a company.

Debit Balances

Accounts on the left-hand side of a double-entry bookkeeping system that typically signify assets or expenses.