Risk occurs when
A)there is a known probability of random variance in the outcome of an action
B)there is imperfect information about the outcome of an action
C)we are uncertain about a given probability
D)there are known knowns, known unknowns, and unknown unknowns

Question

Quizplus · Accepted Answer

Risk occurs when there is a known probability of random variance in the outcome of an action, meaning that the likelihood of different outcomes can be quantified.

Risk Occurs When