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,a situation of risk occurs.

Name: 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,a situation of risk occurs.
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Question

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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