What Is the Name Given to a Group of Individuals

question 103

Multiple Choice

What is the name given to a group of individuals working together to achieve shared job-related goals such as higher pay,shorter working hours,greater benefits,or better working conditions?

• A) Management organization
• B) Company hierarchy
• C) Labor union
• D) External organization
• E) Permanent employees

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Definitions:

Suretyship Contract

An agreement whereby a party (surety) guarantees the performance of an obligation by another party (principal) to a third party (obligee).

Primarily Liable

The main party responsible for fulfilling an obligation or settling a debt in legal or financial contexts.

Secondarily Liable

Refers to a party who is indirectly responsible for a debt or obligation, where primary liability lies with another party, but the secondary party may be called upon to fulfill the obligation if the primary fails to do so.

Collateral

Assets that are pledged as security for the repayment of a loan, which can be seized by the lender if the borrower fails to repay the loan as agreed.