Exposure is the estimated cost, loss, or damage that can result if a threat exploits a vulnerability

Answer the following questions using the information obtained from one of X, Inc.'s financial statements:

Amounts are in millions December 31, 2012 2011 Cash and equivalents $2,808 $1,815 Receivables: Notes and accounts receivable (less allowance for bad debts of $127 and $175) 2,873 2,909 Insurance for asbestos- and silica-related liabilities 1,066 96 a. On which financial statement is the above information found? b. What is meant by cash equivalents? c. Where could you look in the annual report to find more information about cash equivalents? d. Does X, Inc. have significant credit sales? How can you tell? e. Where could you look in the annual report to find more information about the receivables from insurance companies? f. Did the receivables from insurance companies result from sales to insurance companies?

Management by exception would dictate that the manager investigate which of the following variances?

A) Variances which are less than budget and actual dollar amount or percentage B) Variances which are greater than a budget and actual dollar amount or percentage C) All unfavorable variances D) All favorable and unfavorable variances