Mandatory Arbitration

question 1

Multiple Choice

Mandatory arbitration:

• A)Cannot be used in employment disputes.
• B)Cannot be used in consumer disputes.
• C)Cannot be used in disputes between clients and companies.
• D)Requires clients,customers and employees to arbitrate all disputes rather than pursue legal action.

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Definitions:

Gross Profit

The difference between sales revenue and the cost of goods sold.

Cost of Goods Sold

The direct monetary outlays for the creation of goods a company markets, including costs for labor and materials.

Cost of Goods Sold

Costs directly incurred from the process of manufacturing goods that a company sells, including the costs of materials and labor.

Merchandise Sales

The revenue generated from selling goods that a company has purchased or produced for resale.