The Form of ADR That Takes Place When a Third

question 3

Multiple Choice

The form of ADR that takes place when a third party helps two or more parties to a dispute to reach their own agreement about how a legal matter can be resolved is called:

• A)Counselling.
• B)Mediation
• C)Arbitration.
• D)Litigation.

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Definitions:

Bank Service Charges

Fees charged by banks for various services such as account maintenance, transactions, and overdrafts.

Other Income

Comprises earnings from sources other than the main business activities, such as interest, dividends, or rental income.

Accounts Payable

Money owed by a company to its creditors for goods and services purchased on credit.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure they align.