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Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks

Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks

Essentials Of Business Analytics
Essentials Of Business Analytics
1st Edition
ISBN:9781285187273
Author:Camm, Jeff.
Publisher:Camm, Jeff.
Chapter11: Monte Carlo Simulation
Section: Chapter Questions
Problem 2P
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Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks b. Management uses Cost Volume Profit (CPV) analysis as a planning process to predict the future volume of activity, costs incurred, sales made and profit received. Required: i. List and explain FIVE assumptions in C-V-P analysis c. Discuss in detail Five benefits and drawbacks of throughput accounting.
Transcribed Image Text:Question 3 a. Risk occurs where there are several possible outcomes which can be assigned the likelihood of occurring without knowing which will happen. Explain these types of risks b. Management uses Cost Volume Profit (CPV) analysis as a planning process to predict the future volume of activity, costs incurred, sales made and profit received. Required: i. List and explain FIVE assumptions in C-V-P analysis c. Discuss in detail Five benefits and drawbacks of throughput accounting.
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