How does liability differ from risk?

Responses

A. Risk is what is lost by choosing one course of action over another while liability is anything of value that is owned and can be turned into cash.
Risk is what is lost by choosing one course of action over another while liability is anything of value that is owned and can be turned into cash.

B. Liability is a financial obligation or debt while risk is the chance or possibility of a perceived danger or loss.
Liability is a financial obligation or debt while risk is the chance or possibility of a perceived danger or loss.

C. Risk is a financial obligation or debt while liability is the chance or possibility of a perceived danger or loss.
Risk is a financial obligation or debt while liability is the chance or possibility of a perceived danger or loss.

D. Liability is what is lost by choosing one course of action over another while risk is anything of value that is owned and can be turned into cash.
Liability is what is lost by choosing one course of action over another while risk is anything of value that is owned and can be turned into cash.