Risk Is _________ a Part of Cost-Benefit Analysis

question 27

Multiple Choice

Risk is _________ a part of cost-benefit analysis.

• A) never
• B) always
• C) unable to be calculated
• D) decided by others whether to be

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Definitions:

Overstate Liabilities

Refers to the act of reporting liabilities on the financial statements at amounts higher than what is true or accurate.

Internal Controls

Mechanisms, policies, and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Safeguarding Assets

Refers to the actions and policies put in place by an organization to protect its assets from theft, damage, or misuse.

Voucher System

A method of accounting in which documents are used to authorize and record transactions.