It Is Necessary for Students and Accountants to Understand the Types

question 65

True/False

It is necessary for students and accountants to understand the types of threats that may affect an accounting system, so that the threats can be avoided.

---

Definitions:

Risk Propensity

An individual's or organization's inclination or tendency to undertake actions that have uncertain outcomes, potentially involving loss or danger.

Anticipated Outcomes

Anticipated outcomes are the expected results or consequences of an action or decision.

Ranking Items

The process of organizing items or options in a sequential order based on their value, quality, importance, or other criteria.

Criterion

A standard or principle by which something is judged or decisions are made.