Arbitration is a process for settling disputes in which an impartial third party listens to both sides in the dispute and suggests a remedy that may be binding or non-binding

Jorge's firm has a mortgage on its factory in the amount of $540,000. It also owes $60,000 to a supplier. How would these amount be listed on the firm's balance sheet?

a. current assets b. liabilities c. fixed assets d. revenues

Under the UCC, if a purported acceptance to an offer contains additional terms:

A) It is treated as a counteroffer, but it does not reject the original offer. B) If neither party is a merchant, there is no contract. C) If both parties are merchants, there is a contract and the additional terms may or may not become part of the contract. D) It is treated as a rejection and counteroffer.