Alternative Dispute Resolution (ADR) Is Used To

question 6

Multiple Choice

Alternative Dispute Resolution (ADR) is used to:

• A) eliminate the need for a court system.
• B) solve problems with public goods.
• C) stop frivolous suits.
• D) reduce the high cost commercial litigation.

Identify the components and purpose of key financial statements.

Understand the difference between service, retail, and manufacturing businesses.

Distinguish between internal and external users of financial statements.

Grasp the basic concepts of income, expenses, and profit in accounting.

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Definitions:

Intellectual Capital

Represents the intangible assets of an organization, including employee knowledge, brand equity, and customer relationships, that contribute to its competitive advantage.

Organizational Behavior

The study of human behavior in organizational settings, focusing on individual, group, and structural dynamics to improve organizational effectiveness.

Ethics

Ethics refers to the moral principles that govern an individual's behavior or the conducting of an activity, emphasizing what is right or wrong.

Intellectual Capital

The value of an organization's collective knowledge, skills, inventions, or capabilities, which contributes to its competitive advantage.