If Neither Party Is Satisfied with the National Labor Relations

question 54

Multiple Choice

If neither party is satisfied with the National Labor Relations Board's decision,the parties can take the case to the ________ for review.

• A)court of appeals
• B)district court
• C)Senate
• D)House of Representatives
• E)secretary of state

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Definitions:

Periodic Inventory System

A method of inventory management where updates to inventory levels are made at specific intervals, typically at the end of an accounting period, rather than continuously.

Inventory Shipped on Consignment

Goods sent by a vendor (consignor) to a consignee, which are held by the consignee until sold; the consignor retains ownership until the goods are sold.

Consignee

The individual or entity that is legally permitted to receive goods but does not have ownership rights over the cargo until the consignment is paid for or sold.

LIFO Cost Flow Assumption

A method in accounting that assumes the last items of inventory purchased are the first ones sold.