What is the process of applying safeguards to avoid a negative impact? risk mitigation risk transfer risk analysis risk avoidance

risk avoidance

Explanation:

Risk avoidance is simply defined as the process by which safeguards are applied in order to avoid a negative impact. It should be noted that a risk avoidance strategy helps to eliminate all risk and organizations apply safeguards to both potential threats and vulnerabilities.

Risk avoidance helps to remove hazards, and the activities that'll have a negative impact on the business.

urban company reports the following information regarding its production cost: units produced 37,000 units direct labor $ 30 per unit direct materials $ 35 per unit variable overhead $ 237,000 in total fixed overhead $ 127,000 in total