There Are Many Characteristics Associated with the Use of the Court

question 94

Multiple Choice

There are many characteristics associated with the use of the court process that may be considered advantages and disadvantages when compared to alternate dispute resolution.Which of the following is a favourable characteristic one would associate with the litigation process?

• A) a speedier method of obtaining resolution of a dispute
• B) a less costly method of obtaining a resolution to a dispute
• C) a method of dispute resolution where both parties are more likely to be satisfied with the outcome
• D) more likely enforcement of the decision
• E) protection of confidentiality

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Definitions:

Weighted-Average Method

The weighted-average method is an inventory costing approach that calculates the cost of ending inventory and the cost of goods sold based on the weighted average of all costs of items available for sale during the period.

Fitting Department

A dedicated section in a manufacturing or production facility where parts are assembled, adjusted, or finished to meet specific requirements or specifications.

Conversion Costs

The sum of labor and overhead costs that are incurred to convert raw materials into finished products.

Weighted-Average Method

A cost accounting method that averages the costs of goods available for sale or production, weighting by the quantities at each cost.