Mediation Focuses on a Resolution to a Dispute That Both

question 15

True/False

Mediation focuses on a resolution to a dispute that both parties find satisfactory.

---

Definitions:

Absorption Costing

A method in accounting where all costs of manufacturing are absorbed by the units produced.

Variable Costing

A costing method that includes only variable production costs (direct labor, materials, and overhead) in product costs, excluding fixed costs.

Fixed Overhead

Denotes the regular, recurring costs associated with running a business that do not fluctuate with production volume, such as rent, salaries, and utilities.

Net Income

Net income is the total earnings of a company after all expenses and taxes have been deducted from total revenue, indicating the company's profit.