What Is True of a Craft Union

question 91

Multiple Choice

What is true of a craft union?

• A) It represents many different occupations.
• B) Membership in the union is the result of working for a particular employer in the industry.
• C) Changing employers is not very common.
• D) It is often responsible for training members through apprenticeships.
• E) It consists of members who are linked by their work in a particular industry.

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Definitions:

Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its tangible and identifiable intangible assets.

Fair Value

The price that would be received for selling an asset or paid for transferring a liability in an orderly transaction between market participants at the measurement date.

Straight Line Amortization

A method of allocating the cost of an intangible asset evenly over its useful life.

Unrealized Profits

are profits that have been earned but not yet realized through a transaction, such as an increase in value of unsold stocks.