Which of the Following Statements Is True of an Arbitrator

question 55

Multiple Choice

Which of the following statements is true of an arbitrator?

• A) An arbitrator must have a background in law.
• B) An arbitrator is usually assigned by a court.
• C) An arbitrator has no say on the substantive and procedural rules to be followed.
• D) An arbitrator's decision is called an award.

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Definitions:

Cash

The most liquid form of financial asset, used to settle debts and transactions.

Contributions

In accounting, refers to the amounts paid into a company by the owners or shareholders for equity.

Joint Operation

A business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task, where each participant is jointly responsible for profits, losses, and costs.

Supply Of Services

The action of providing services to consumers or businesses, which can involve physical labor or intellectual tasks.