In the context of ERM, risk is defined as:
a. Possibility that an event will occur and impact the entity’s ability to achieve its stated objectives
b. Possibility that an event will occur and negatively impact the entity’s ability to achieve its stated objectives
c. Possibility that an event will occur and impact the entity’s ability to conduct its daily activities
d. Possibility that an event will occur and negatively impact the entity’s ability to conduct its daily activities
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