Which One of the Following BEST Describes the Purpose of a Priority

question 27

Multiple Choice

Which one of the following BEST describes the purpose of a priority rating in an incident report?

• A) To show which parts of the system are affected by the incident
• B) To show how quickly the problem should be fixed
• C) To show how much it would cost to fix the defect
• D) To show progress of testing

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Definitions:

Accounting Profits

Accounting profits refer to the net earnings of a company as calculated by subtracting total expenses from total revenues, using standard accounting principles.

Economic Profits

The difference between total revenues and total costs, including both explicit and implicit costs, indicating the profitability of a company beyond basic accounting measures.

Economic Losses

Financial losses that occur when the cost of production exceeds the revenue generated from sales.

Total Output

The total quantity of goods or services produced by a firm or economy in a given period.