A Risk Consequence Table Is a Tool That Can Be

question 15

Multiple Choice

A risk consequence table is a tool that can be used to:

• A) list the consequences that would follow in the event of a risk occurring.
• B) rank the severity of consequences based on their impact in the event of a risk occurring.
• C) rank the severity of consequences based on their impact and duration in the event of a risk occurring.
• D) determine the likelihood of exposure to a risk.
• E) determine the frequency of exposure to a risk.

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Definitions:

Income Statements

A financial statement that shows a company's revenues and expenses over a specific period, leading to the net income or loss.

Merchandising Company

A business that purchases goods and sells them at a higher price without changing their form.

Manufacturing Company

A type of business that produces finished goods from raw materials through the use of labor and machinery.

Cost of Goods Sold

Cost of Goods Sold (COGS) represents the direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor used to create the product.