A Risk Manager Should Address Which of the Following Considerations

question 12

Multiple Choice

A risk manager should address which of the following considerations?

• A)The firm needs to understand the major risks and consequences that the company faces.
• B)The firm needs to understand the major risks and consequences that the company faces, and the firm needs to determine if it is being paid for any particular risk.
• C)The firm needs to understand the major risks and consequences that the company faces, the firm needs to determine if it is being paid for any particular risk, and the firm should know how to control a particular risk.
• D)The firm should simply view risks as external factors beyond the firm's control.

Differentiate between high-context and low-context cultures and their communication styles.

Identify techniques for improving intercultural communication.

Discern the role of stereotypes and generalizations in obstructing effective communication.

Navigate and resolve ethical dilemmas in communication decisions.

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Definitions:

Unadjusted

Refers to figures or entries that have not been modified to reflect adjustments, corrections, or changes.

Adjusted

Adjusted generally refers to alterations made to financial statements or data to correct for discrepancies or to account for extraordinary events.

Final Trial Balances

Final trial balances are the summary listings of all the ledger accounts right after the closing entries are made at the end of an accounting period, essentially reflecting the balance of every account before the start of a new accounting period.

Adjustments

Modifications made in accounting records to reflect more accurate values or to record transactions not yet entered.