Which of the Following Is NOT Involved in Risk Control

question 81

Multiple Choice

Which of the following is NOT involved in risk control?

• A)Executing the risk response strategy
• B)Initiating contingency plans
• C)Establishing a change control system
• D)Establishing contingency funds
• E)Watching for new risks

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Definitions:

Inventory Transfer

The process of moving goods from one location to another within the same business entity.

Cost of Goods Sold

Immediate expenses incurred in the production of a company’s merchandise, including labor and material costs.

Gross Profit

The difference between sales revenue and the cost of goods sold, before deducting overheads, payroll, taxation, and interest payments.

Consolidated Financial Statements

Financial statements that aggregate the financial position of a parent company and its subsidiaries into one document, showing the overall health of the corporate group.