Far Trade Company and Global Shipping, Inc., have their dispute resolved in arbitration. The arbitrator meets with Far's representative to discuss the dispute outside the presence of Global's representative, before determining the award. If this meeting substantially prejudiced Global's rights, a court will most likely a. do nothing. b. review the merits of the dispute. c. review the sufficiency of the evidence. d. set aside the award.

d. set aside the award.

Explanation:

Arbitration is the means by which legal issues are settled with the help of an impartial party called the arbitrator. In an arbitration the parties are bound by decisions made. All parties must be present and agree to the settlement terms.

However in this instance the arbitrator met with only one party (Far Trade Company) and made a settlement. This settlement is not binding on Global Shipping since they did not attend the meeting and agree to the settlement terms.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.