In risk management, risk evaluation involve Risk resolution. The evaluation process is carried out by management.
<h3 /><h3>What is Risk?</h3>
Risk is the threat of things going wrong or having a negative impact on the operations of the organization. The risk can be of many types including and not limited to audit risk, control risk, credit risk, business risk, inherent risk, financial risk and more.
Risk is evaluated by the management to minimize the effects and mitigate the risk. There are several steps that are performed to analyze the risk and many ways are there to lower the effects of risk.
Risk resolution is the management strategies to analyze the risk and the best ways to mitigate the effects. Transfer the risk, avoid the risk by changing the decision, reduce and accept.
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Answer:
D) is 20% above expectations.
Explanation:
The Augusta Division was supposed to earn a net profit of $1,000,000 (= $2,000,000 - $1,000,000). Since the division's manager and his/her team were able to cut reduce fixed costs to $900,000 and increase contribution margin to $2,100,000 (either by increasing selling price or reducing variable costs), then the division earned a net profit of $1,200,000 (= $2,100,000 - $900,000). This net profit is 20% higher than expected, therefore the manager's (and his/her team's) overall performance was 20% above expectations.
Answer:
True
Explanation:
A more precise way to describe the situation is that Joe's pizza parlor is a monopolistic competition. But that definition considers that all 'food' items have some degree of close substitute relation.
But yes, if you consider this two conditions:
- a broad definition of monopoly
- other restaurants are not considered close substitutes for the food sold at the pizza parlor
Then yes, Joe has monopoly
