When managers know the possible outcomes of a decision and can assign probabilities to each of these outcomes in terms of their likelihood of occurrence in the future,this is known as:
A)Uncertainty
B)Certainty
C)Risk
D)Bounded rationality
E)Dialectical inquiry

Question

Quizplus · Accepted Answer

Risk is present when managers know the possible outcomes of a particular course of action and can assign probabilities to them.

When Managers Know the Possible Outcomes of a Decision and Can