A Benefit of Arbitration Is Which of the Following, According

question 47

Multiple Choice

A benefit of arbitration is which of the following, according to the text?

• A) Arbitrators are assigned so parties do not have to pick them.
• B) Arbitration is generally less expensive than litigation.
• C) Arbitrators are bound by the same rules as judges in applying precedent.
• D) Arbitrations can be set aside on appeal for the same reasons as court judgments.
• E) Arbitrations prohibit the use of legal counsel.

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Definitions:

Ledger

A comprehensive collection of accounts that records all financial transactions of a business, organized to show the financial status and activities.

Account Number

An account number is a unique identifier assigned to an account held by a bank, financial institution, or service provider to differentiate it from other accounts.

Assets

Assets are resources owned or controlled by a business, expected to produce economic value or future benefits.

Debits

Accounting entries that increase assets or expenses or decrease liabilities, equity, or net worth in a company's balance sheet.