Of the risk management techniques, which is defined as an act of stopping or not attempting a business activity that may or may not result in some kind of loss?
  1. Transferability
  2. Avoidance
  3. Retention
  4. Accepting the consequences of the potential risks
Explanation
Answer - B - Of the risk management techniques, avoidance is defined as an act of stopping or not attempting a business activity that may or may not result in some kind of loss.

Key Takeaway: Avoidance means an act of ceasing or not attempting an activity which may result in some kind of loss or risk. Avoidance is a better risk management technique to use when an organization lacks the appropriate resources to effectively carry out an action or program.
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