Which Is an Outcome-Based Management Function That Implements Measures to Prevent

question 3

Multiple Choice

Which is an outcome-based management function that implements measures to prevent or lessen the effects of risks at the lowest cost?

• A)quality management
• B)risk management
• C)security management
• D)utilization management

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Definitions:

Intangible

Something that cannot be touched or physically measured, often relating to non-physical assets or values.

Inventory Carrying Costs

Expenses related to holding or storing inventory, including warehousing, insurance, depreciation, and opportunity costs.

Straight Salary

Straight salary refers to a fixed amount of pay given to employees irrespective of the number of hours worked or the quantity of work done, typically provided on a regular basis like weekly or monthly.

Retail Stores

Physical outlets where goods are sold directly to the public, usually from a specific location or premises.