The Enterprise Risk Manager Depends on Two Types of Experts

question 63

Multiple Choice

The enterprise risk manager depends on two types of experts to ensure the liabilities side of the business is well managed.Identify these experts.

• A)Assessors and accountants
• B)Actuaries and covenants
• C)Covenants and attorneys
• D)Actuaries and underwriters
• E)Underwriters and assessors

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Definitions:

Cost of Goods Sold

The direct expenses tied to the production of the goods sold by a company, including materials and labor.

Schedule of Cost

An organized list detailing the costs associated with a project or production process, often used for budgeting and control.

Cost of Goods Manufactured

The total cost of producing goods in a given period, including labor, material, and overhead costs.

Cost of Goods Available

The total cost of inventory available for sale during a specific period, calculated as the sum of beginning inventory plus purchases during the period.