A_________ Is a Documented Plan for Risk Response

question 64

Multiple Choice

A_________ is a documented plan for risk response.

• A)risk response register
• B)risk document
• C)risk response plan
• D)risk management plan

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Definitions:

Business Entity Concept

An accounting principle that treats a business as separate from its owners or shareholders for financial reporting purposes.

Internal Users

Internal users are individuals or groups within an organization who use financial information to make decisions about the operations of the company, such as management and employees.

External Users

Individuals or entities outside of a company who use its financial information, typically for analysis, investment, or regulatory purposes.

Sole Owner

An individual who exclusively owns a business, bearing all the risks and entitled to all the profits.