Describe the First Step of the Negotiation Process

question 29

Essay

Describe the first step of the negotiation process. How does this step affect negotiating parties' relationship? How does the negotiating parties' relationship help determine the kind of bargaining that will be done (integrative or distributive)?

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Definitions:

Trade or Business Expenses

Trade or business expenses are the costs of carrying on a trade or business, and these expenses are usually deductible if the business operates to make a profit.

For AGI Deduction

For AGI deductions, also known as above-the-line deductions, reduce gross income to arrive at adjusted gross income and can include expenses such as certain business expenses, alimony payments, and contributions to retirement accounts.

Material Amount

A sum of money that is large enough to influence decisions or the perception of a company's financial performance.

Sole Proprietorship

A business structure where a single individual owns and operates the business, bearing full responsibility for its debts and obligations.