The Labor-Management Relations Act of 1947 (Also Known as the Taft-Hartley

question 19

Multiple Choice

The Labor-Management Relations Act of 1947 (also known as the Taft-Hartley Act) was significant because it

• A) curtailed union power by permitting states to pass right-to-work laws.
• B) granted firms the right to break unions.
• C) outlawed yellow-dog contracts.
• D) created the National Labor Relations Board.
• E) granted union rank and file the right to decertify its leadership via election.

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Definitions:

Planning Budget

A financial plan to estimate the revenue and expenses for a specific period in the future, guiding a business's spending and operations.

Direct Labor

The labor costs that are specifically traceable to the production of goods or services.

Budgeted Units

An estimate of the quantity of goods or services that an organization plans to produce or sell in a specific period.

Planning Budget

A budget developed for various levels of activity, forecasting revenue and expense figures based on different production or sales volumes.