Answer:
True.
Explanation:
Arbitration and mediation are two alternative ways of resolving legal conflicts, that is, they are alternatives to judicial litigation.
Thus, arbitration involves the selection of an impartial third party (similar to a judge), who will decide through an award who of the parties is right, basing his decision on law, morals, ethics or common sense.
For its part, mediation involves a negotiation between the parties, assisted by a third party, the mediator, who will seek to reach an agreement.
Both alternatives imply that a lawsuit is not initiated, which in itself entails a notable economic and time saving for the parties in conflict.
Pet care salons, skin clinics, and day care centers are all examples of businesses operating in the <u>service industry</u>.
Service industry is an industry in the part of the economy that creates services rather than tangible objects. These service industry provides a service but does not produce anything.
The industries based on service are an important part of society for a variety of reasons, including- delivering essential services to the public. Pet care salons, skin clinics, and day care centers are all examples of businesses operating in the service industry. These services too generate income.
Hence, service industry play an important role in society.
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Answer:
Income
Explanation:
A budget shows a plan of how one will spend their income. It is, therefore, a plan of expenditure. A budget shows total expected income on one side and projected expenditure on the other side. The budget is balanced when income and expenses are equal.
Existing business with a proven record. When you ask for investments, the lending institution will most definitely ask for your financial track record. They would want to know if you are a good paymaster because they will need the assurance that you can pay them back. Even if you have a really original idea and want to start a new business, there will still be some reservation if you have no track record because the lenders do not know if you are trustworthy or not. Unlike if you already have a proven record that you are a good paymaster, then you at least have proof that you can pay back.
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