Which of the Following Statements Best Describes the Role of Unions

question 46

Multiple Choice

Which of the following statements best describes the role of unions in wage determination?

• A)When labour is scarce, the balance of power tilts toward the employers.
• B)It is the supply and demand for labour that determines wages and not the union.
• C)The union insists on individual merit-based performance measures when the organization faces external competition pressure.
• D)During periods of higher unemployment, the impact of unions is lesser.
• E)The role of unions in administering compensation is outlined primarily in the contract.

Recognize the function of the legislative branch in creating statutory law.

Define the scope and application of business law.

Identify the role of the National Conference of Commissioners on Uniform State Laws in promoting legal uniformity.

Understand the jurisdiction and binding authority of court decisions across different courts and states.

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Definitions:

Trial Balance

An accounting worksheet compiling all ledger balances into debit and credit columns that balance equally.

Debit Balances

The situation where the total debits in an account exceed the total credits, indicating assets or expenses.

Credit Balances

Balances in financial accounts indicating the amount owed by the account holder, often seen in liability and equity accounts.

Salaries Expense

The total amount paid to employees for services rendered during a specific period, recognized in the accounting period in which the employees performed the services.