Which of the Following Is True of Litigation and ADR

question 31

Multiple Choice

Which of the following is true of litigation and ADR?

• A) Litigation is less adversarial than ADR procedures.
• B) Litigation is generally more expensive than ADR procedures.
• C) ADR procedures are generally more time-consuming than litigation.
• D) The use of ADR procedures makes litigation unnecessary.

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Definitions:

Raw Materials Price

The cost of raw materials required in the manufacturing process, a critical factor in the overall production cost and pricing strategy.

Variance

The difference between a planned, budgeted, or standard amount and the actual amount incurred or realized.

Revenue Variance

The difference between actual revenue earned and expected revenue, often used in budgeting and financial analysis.

Materials Price Variance

The difference between the actual cost of raw materials used in production and the expected (or standard) cost of those materials.