When a Risk Event Occurs, Which of the Following Documents

question 279

Multiple Choice

When a risk event occurs, which of the following documents is BEST suited for recording and tracking new items corresponding to the risk?

• A) Issue log
• B) Risk management plan
• C) Communications plan
• D) Risk register
• E) Status report

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Definitions:

Non-recognition

A tax principle allowing certain transfers or exchanges of property to occur without immediate tax consequences.

Involuntary Conversion

A forced change of property ownership or destruction, such as through theft or natural disaster, that may have tax implications.

Installment Method

is an accounting technique used to recognize revenue and expenses over time as payments are made or received, rather than at the time of transaction.

Basis

The amount of an investment in property for tax purposes; used to calculate gain or loss on a sale or other disposition of the property.