A Type of Risk Response Planning Where the Idea Is

question 39

Multiple Choice

A type of risk response planning where the idea is to soften the danger of the threat, by reducing the likelihood it will occur, or through reducing its impact if it does occur, implies that the project manager must __________.

• A)avoid
• B)transfer
• C)accept
• D)mitigate

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Definitions:

Average Cost Flow

An inventory costing method that assigns the average cost of goods available for sale to both ending inventory and cost of goods sold.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated by adding purchases to the beginning inventory and subtracting goods sold.

LIFO

Last In, First Out; an inventory valuation method where the most recently produced items are recorded as sold first.

Inventory Costing Method

Refers to the techniques or formulas used by businesses to assign costs to their inventory and determine the cost of goods sold, such as FIFO, LIFO, or weighted average methods.