Generally,an Arbitrator's Award Does Not Need to Set Forth Conclusions

question 83

True/False

Generally,an arbitrator's award does not need to set forth conclusions of law or the reasons for an award.

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Definitions:

Net Income

The total earnings of a company after subtracting all expenses, taxes, and costs, indicating the company's profitability.

Depreciation

The accounting process of allocating the cost of tangible assets over their useful lives, reflecting wear and tear or obsolescence.

Inventory

A company's merchandise, raw materials, and finished and unfinished products which have not yet been sold.

Matching Principle

An accounting concept that dictates that expenses should be recorded in the same period as the revenues they help to generate.