A contingency is an uncertain circumstance involving a potential gain or loss that will not be resolved until some future event occurs. The following table lists the possible outcomes of a contingency. Complete the table by filling in the definition and required accounting for each possible outcome.
Definitions:
Mediation
A conflict resolution method involving a neutral third party who assists the conflicting parties in reaching a mutually satisfactory agreement.
Process Control
A system of monitoring and adjusting the ways in which a process is conducted, especially in industrial production, to ensure optimal performance and output.
Process Control
Process control involves continuously monitoring and adjusting processes to maintain desired outcomes in manufacturing, production, or other operation systems.
Decision Control
The process of making decisions and establishing policies that guide the actions of an organization.
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