Hap Owns and Operates a Small Business with Only Four

question 335

Multiple Choice

Hap owns and operates a small business with only four full-time employees and less than $500,000 in annual sales.He currently uses a manual accounting system and relies on a part-time bookkeeper to keep his records in order.In evaluating the possible adoption of a computerized accounting system,Hap will probably discover that:

• A)The expense of setting up a computerized accounting system would not be affordable at this time.
• B)He would be better off hiring a full-time accountant.
• C)He could benefit from adopting such a system,but should also consult with an accountant for advice about what's best.
• D)A computerized system would be affordable,but that he would have little need for it unless his company became significantly larger.

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Definitions:

Arbitrator

A neutral third party who is brought in to resolve a dispute between two parties, making a decision that is usually binding.

Senior Management

High-level executives who are responsible for managing the overall operations and resources of a company or organization.

Chief Steward

A chief steward in a union context is a lead union representative who handles grievances, negotiations, and communication between the union members and management.

Collective Agreement Negotiations

The process in which representatives of employers and employees negotiate over terms of employment, such as wages, hours, and working conditions, leading to a collective agreement.