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?
A)Transferability
B)Avoidance
C)Retention
D)Accepting the consequences of the potential risks

Question

Quizplus · Accepted Answer

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.

Of the Risk Management Techniques, Which Is Defined as an Act