Which Component of the ERM Framework Is Best Described Here

question 121

Multiple Choice

Which component of the ERM framework is best described here: 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.

• A)control activities
• B)event identification
• C)risk assessment
• D)risk response

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Definitions:

Simple Step-Family

A familial setup where one of the adults has children from a previous relationship, but the couple has no mutual children.

Complex Step-Family

A family structure where one or both partners have children from previous relationships, leading to a blend of parents and children with varied relationships.

Multigenerational Family

A family living arrangement where more than two generations live under the same roof or closely together.

Family of Procreation

The family unit that an individual forms by marrying and having or adopting children.