Which of the Following Statements Is True Concerning the Successful

question 5

Multiple Choice

Which of the following statements is true concerning the successful adoption of an enterprise risk management program?
I.The management team must be committed to the success of the ERM program.
II.Communication about the ERM program is crucial during the implementation stage.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Wage Rate

The standard amount of pay given for work performed, typically expressed as an amount per hour or amount per piece of work completed.

Endowment

The total resources, including wealth, talent, or abilities, that individuals or institutions possess, which can influence their capacity to make economic decisions.

Alimony

Financial support paid by one ex-spouse to another after divorce, as ordered by a court.

Budget Line

A graphical representation that shows all possible combinations of two goods that a consumer can afford with their income level.