Which of the Following Statements Is True About Arbitration

question 22

Multiple Choice

Which of the following statements is true about arbitration?

• A)Interest arbitration is frequently used in the private sector.
• B)It is most frequently used in the resolution of grievances during a contract period.
• C)Under conventional interest arbitration,the arbitrator is restricted to selecting the final offer of one of the parties.
• D)Interest arbitration is also known as collective arbitration.

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Definitions:

Sole Proprietor

is a business owned and operated by a single individual, where there is no legal distinction between the owner and the business entity.

Corporation

A legal entity that is separate from its owners, providing limited liability, and is able to own property, incur debt, sue and be sued.

General Partner

An owner of a partnership who is responsible for its operations and is liable for its debts without limitation.

Shareholder

An individual or organization that owns at least one share of a company's stock, making them a part owner of that company.