___ is the possibility that an unwarranted circumstance will occur that can result in some loss.
A) Risk
B) Contingency
C) Anticipated loss
D) Management reserve

Question

Quizplus · Accepted Answer

Risk refers to the chance of an unwarranted situation occurring, which can lead to a loss. Contingency means a possible future event that may have an advantage or disadvantage. Anticipated loss refers to the estimation of potential losses that may arise in the future. Management reserve refers to the amount of extra funds set aside in advance of unexpected events or expenses.

___ Is the Possibility That an Unwarranted Circumstance Will Occur