Risk Assessment Is Best Described By

question 56

Multiple Choice

Risk assessment is best described by:

• A) Internal and external events affecting achievement of an entity's objectives must be identified, distinguishing between risks and opportunities.
• B) Management selects whether to avoid, accept, reduce, or share risk -developing a set of actions to align risks with the entity's risk tolerances and risk appetite.
• C) The entirety of enterprise risk management is monitored and modifications made as necessary.
• D) The likelihood and impact of risks are analyzed, as a basis for determining how they should be managed.

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Definitions:

Liberalism

An approach towards politics and ethics that advocates for individual liberty, the agreement of the governed, and uniformity in legal standards.

European Enlightenment

An intellectual movement in 17th and 18th centuries emphasizing reason and individualism rather than tradition; heavily influencing the development of Western philosophy, political thought, and society.

Deism

Enlightenment thought applied to religion; emphasized reason, morality, and natural law.

Junípero Serra

An 18th-century Franciscan friar known for founding several missions in what is now California, contributing to the Spanish colonization of the region.