In a Union Shop

question 114

Multiple Choice

In a union shop:

• A)workers must join the union within a stipulated time period (usually a month)in order to keep their jobs.
• B)workers must belong to the union before the company can hire them.
• C)workers who do not join the union must pay a union fee.
• D)workers are required to sign yellow-dog contracts.

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Definitions:

Noncash Expense

Expenses that do not directly result in a physical outflow of cash but are recorded in the accounting records, such as depreciation.

Depreciation

The methodical distribution of the expense of a physical asset across its lifespan.

Plant Assets

Tangible assets used in a company's operations that have a useful life of more than one year.

Notes Payable

A written agreement to pay a specified amount, usually including interest, by a certain date.