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2 years ago

He term risk management describes the process of identifying, assessing, prioritizing, and addressing risks. true false

1 answer:

6 0

It is true, the term risk management describes the process of identifying, assessing, prioritizing, and addressing risks.

<h3>Risk management process :</h3>

Identification, control, and evaluation of risks to an organization's resources and profits are steps in the risk management process. These risks have many different causes, such as monetary unpredictability, legal responsibilities, technological problems, strategic management blunders, accidents, and natural calamities.

<h3>Function of risk management :</h3>

Risk management is the process of discovering, evaluating, and managing exposures to loss in relation to assets, liabilities, income, and employees. The protection of the organization's material and human resources is the ultimate goal of risk management in order to ensure the effective continuation of its business activities.

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The master budget at Western Company last period called for sales of 225,000 units at $9 each. The costs were estimated to be $3

djyliett [7]

Answer:

The operating profit under actual budget gives $833,000 while flexible budget gives $982,500 which results in an unfavorable variance of $149,500

Explanation:

In computing the final variance I started with sales revenue for the actual production and sales of 230,000 under both actual and flexed budgets.

This approach implies that the original budget was revised to reflect actual quantity produced and sold but the budgeted amounts were used under flexed budget while the actual amounts were applied under the actual budget preparation.

Find the details in the attached.

Download xlsx

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3 years ago

Read 2 more answers

Alex withdrew $500,000 from an account that paid 5 percent annual interest and used the funds to purchase real estate. After one

oksano4ka [1.4K]

Answer:

a) 25,000

Explanation:

The computation of the economic profit is shown below;

Economic profit is

= Revenue - Explicit cost - Implicit cost

= $550,000 - $500,000 - $500,000 × 5%

= $550,000 - $500,000 - $25000

= $25,000

Hence, the economic profit on this deal was $25,000

Therefore the correct option is a.

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0

3 years ago

Capital that is invested by private companies outside of their home countries is called:

Vedmedyk [2.9K]

FDI , Foreign direct investment

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4 years ago

Which statement best describes what a project manager controls?

Mila [183]

Answer:

I believe it’s the delegation of resources

Explanation:only other logical choice is delegation of responsibilities but that’s up to the boss or who assigned the project in the first place

4 0

3 years ago

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Primara Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours

kkurt [141]

Answer: $9.21, 4000F, 18,420U

Explanation:

GIVEN THE FOLLOWING ;

Total budgeted fixed overhead cost for the year = $525,100

Actual fixed overhead cost for the year = $521,100

Budgeted direct labor-hours (denominator level of activity) = 59,000

Actual direct Labor hours = 60,000 Standard direct labor-hours allowed for the actual output = 57,000

A.) Fixed portion of predetermined overhead rate = (total budgeted fixed overhead ÷ denominator level of activity)

$525,100 ÷ 57,000 = $9.21 per direct Labor hour

Budget variance = Actual fixed overhead - budgeted fixed overhead

$521,100 - $525,100 = $4000F

Volume variance = fixed portion of predetermined overhead × (denominator hours - standard hours allowed)

$9.21 × (59,000 - 57,000)

$9.21 × (2000)

18,420U

8 0

3 years ago