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Earn +20 ptsQ: What does contingency mean?
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What is another term for contingency?
Chance, possibility, probability, eventuality, or exigency. Those words mean contingency.
What is the purpose of having a contingency plan?
The purpose of having a contingency plan is to have steps when things go wrong in a business. A contingency plan goes into act when something unexpected happens.
What is contingency?
It is an event that is likely to hapen but it can not be predicteded with pure certainty
What is contingency amount?
In general accounting practice, contingency amount means reserve or backup money. It will be used to manage a risk or an uncertain events. This amount will be allocated by percentage of the budgeted amount.
What are the four main forms of planning?
Strategic, Tactical, Operational and Contingency
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