___________ is an activity that reduces the chance that a loss will occur.
A)loss control
B)risk transfer
C)loss prevention
D)risk avoidance

Question

___________ is an activity that reduces the chance that a loss will occur. ​
A)loss control
B)risk transfer
C)loss prevention
D)risk avoidance

Quizplus · Accepted Answer

Loss prevention focuses on taking proactive measures to reduce the likelihood of a loss occurring. This can include implementing safety procedures, maintaining equipment, and training employees on proper procedures to reduce the occurrence of accidents and incidents. Loss control, on the other hand, deals with managing losses after they have occurred. Risk transfer is the process of shifting the burden of financial loss from one party to another, such as through insurance or contractual agreements. Risk avoidance involves avoiding activities or situations that have a high likelihood of resulting in loss.

___________ Is an Activity That Reduces the Chance That a Loss