Put the Listed Steps in the Corresponding Parentheses in the Risk

question 2

Essay

Put the listed steps in the corresponding parentheses in the risk assessment and response approach diagram below.
(A)Avoid,share or accept risk
(B)Reduce risk by implementing controls
(C)Is it cost beneficial to protect the firm from the risk?
(D)Estimate the likelihood of each risk occurring
(E)Identify control to mitigate the risk
(F)Estimate the costs and benefits from instituting controls
(G)Identify the risks
(H)Estimate the impact or potential loss,from each risk

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Definitions:

September

The Gregorian calendar's ninth month.

Materials Price Variance

Materials Price Variance is the difference between the actual cost of materials and the standard cost, indicating how much more or less was paid for materials than expected.

September

The ninth month of the Julian and Gregorian calendars, known for marking the transition from summer to autumn in the Northern Hemisphere.

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the standard quantity expected to be used, multiplied by the standard cost per unit of material.