The Decision of an Arbitrator

question 389

Multiple Choice

The decision of an arbitrator:

• A) must be in writing
• B) is referred to as a reward
• C) is binding on the parties as if it were a court decision
• D) may never be appealed
• E) all of the other choices

---

Definitions:

Line Item

A specific and distinct item that appears on a statement or list, such as a financial report, indicating a single transaction or account component.

Financial Position

A snapshot of the assets, liabilities, and equity of a company at a particular point in time, providing insight into its financial health.

Associates Profit

The share of earnings derived from an associate company in which the parent company has significant influence but not total control.

Comprehensive Income

Represents the total change in equity for a period that is derived from both operating and non-operating activities, excluding any owner changes.