Assuming the Uniform Mediation Act Provisions Apply,did Dominic Correctly Tell

question 43

Multiple Choice

Assuming the Uniform Mediation Act provisions apply,did Dominic correctly tell Naomi that mediation is nearly the same as arbitration?

• A)He was correct because the only difference between the two involves whether a court reporter is present.
• B)He was correct because the only difference between the two involves cost.
• C)No,he was incorrect.There are major differences between mediation and arbitration.
• D)He was correct because the only difference between the two involves the length of the proceeding.
• E)He was correct because the only difference between the two involves the type of evidence that may be considered.

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Definitions:

Selling Expenses

Costs incurred directly from the selling of products or services, including advertising, promotions, and sales personnel salaries.

Direct Labor

Labor costs directly associated with the production of goods or services, typically including wages of workers or employees involved in manufacturing.

Inventory Shrinkage

The loss of products between manufacture and point of sale, often due to theft, damage, or administrative errors.

Gross Margin

The difference between revenue and cost of goods sold, expressed as a percentage of revenue.