Answer:
Arbitration
Explanation:
Based on the information provided within the question it can be said that this type of settlement is called Arbitration. This term refers to a form of resolving disputes outside of the court system by bringing in a third party who will render an "arbitration award" that will make a binding determination on the dispute. Which is completely enforceable in the courts.
Answer:
a. 0.36
Explanation:
The computation of the gross profit rate is shown below:
Gross profit rate = Gross profit ÷ Net sales revenue
where,
Net sales revenue = Sales revenue - Sales return and allowances - sales discounts
= $160,000 - $3,000 - $7,000
= $150,000
And, the Cost of goods sold is $96,000
So, the gross profit is
= $54,000 ÷ $150,000
= 0.36
Answer:
$ in thousands) 2020
Net sales $4,163,770
Cost of sales before special charges 1,382,235
Special inventory obsolescence charge 27,876
Total cost of sales 1,410,111
Gross profit 2,753,659
Selling, general and admin expense 1,570,667
Research and development expense 531,086
Explanation:
Both operating expenses and cost of goods sold (COGS) are expenditures that companies incur with running their business. However, the expenses are segregated on the income statement. Operating expenses and COGS measure different ways in which resources are spent in the process of running a company.
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