Advantages of Alternative Dispute Resolution (ADR)include That ADR

question 41

Multiple Choice

Advantages of Alternative Dispute Resolution (ADR) include that ADR:

• A) is faster than litigation.
• B) keeps the parties talking rather than fighting.
• C) is less expensive than litigation.
• D) All of the above are advantages of ADR.

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Definitions:

Owner's Capital Account

An equity account representing the total investment of the owner in the business, including initial contributions and subsequent earnings, minus any withdrawals.

Asset Account

Accounts used in accounting to track the value of economic resources owned or controlled by an entity which can provide future benefits.

Trial Balance

A report that lists the balances of all ledger accounts at a specific point in time, used to verify the equality of debits and credits.

Debit Column

The left-hand column in an account or financial statement where debits are recorded, typically representing increases in assets or expenses and decreases in liabilities or equity.