Legal Decision

Arbiter
An arbiter is a person appointed by a court to decide a controversy according to the law. Unlike an arbitrator, an arbiter's decision needs the court's confirmation to be final.
Ruling
A ruling is an authoritative decision or pronouncement made by a court or an authoritative body like the IRS, which provides a formal decision on a matter of law.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.