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Define the term risk in risk management.
Risk:
It is the probability or chance of something which may or may not arise; this is something that can be quantified by using standard deviation.
Uncertainty:
It is something that cannot be predicted along with statistical confidence, normally because of insufficient information.
What are the approaches to allocate factory overheads? Product costing allocation methods - Plant wide allocation, Department allocation, Activity based allocation
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define project evalution
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