Answer:
Record it in the risk register, discuss potential responses and make a note to update the RBS.
Explanation:
Risk management is the process by which the management of an organisation identifies, assessed, and controls threats that may affect the company's capital or earnings.
The risks can be as a result of natural disasters, management error, financial uncertainty, or accidents.
In the given instance if a risk is not on any of the categories in you Risk Breakdown Structure (RBS), there is need to record it in the risk register, discuss potential responses and make a note to update the RBS.
Answer:
Classifying a cost as either direct or indirect depends upon B: whether the cost can be easily traced with the cost object
Explanation:
The classification of a cost as direct or indirect depends on the connection to the cost object. If the cost can be linked undeviatingly to the cost object, it is direct. On the contrary, if it can't be traced to the cost object it is indirect.
A. whether a cost is fixed or variable. Incorrect. A direct cost can be fixed or variable.
B. whether the cost can be easily traced with the cost object. Correct.
C. the behavior of the cost in response to volume changes. Incorrect. This is a variable cost (or fixed that changes in relevant range)
D. whether the cost is expensed in the period in which it is incurred. Incorrect.
Answer:
Having increased profit
Explanation:
When there exists competition in a market, owners and companies are forced to lower their prices to make their product or service competitive. The opportunity that Tina has now, enables her to sell the wooden decorative items at a prize that not only cover her costs of production, but also with higher profit. However, Tina must be very wise as to how to use that profit. She may not have competitors now, but in the future she might have. Granted, she can look at ways in which she can use that profit to invest in technology or computer systems that could make the production costs lower, which in turn enable her to reduce the prize of her products in the future.
Answer:
A) This statement refers to the fact that money is great as a medium of exchange, because it is accepted by people, and it's easy to tansport.
B) Money has three functions: as a store of value, as a unit of account, and as means of exchange. When a society thinks that something (be it coins, bills, cigarrettes) has those three functions, it becomes money.
C) The government issues treasure bonds that are bought by the central bank, the money the central bank pays from these bonds enters the market. Commercial banks also borrow from the central bank. These funds they borrow are used to make loans, and put more money in the market.
D) Money has value as long as it is exchanged for goods and services. Even if a person hoards money for a long period of time, that person does so because he or she expects the money to gain value, or because he or she wants to save for the future.
E) This statement is describing what inflation is. Inflation is the rate of price increase in time. When there is more money than goods and services in an economy, money itself loses value and all the prices expressed in monetary value increase.
F) The statement is true. If a central bank creates too much money, it will lead to inflation, or even hyperinflation.
