Please keep each answer brief.

1. Discuss how reducing the cost of risk enhances Business Value and the possible conflicts between Business and Societal objectives.

2.How does Business Risk Management differ from Individual Risk Management?

3.Discuss at least three different Tort Reform Proposals and the impact they might have on Risk Management decisions?

4.Please describe the difference between thesubstanceandformof financial statements. Give an example of each.

5.Explain the importance of accrual accounting and proper application of the matching principle for the computation of contribution margins and break-even points.