The Local School Board Received a Donation of $1,000,000 to Establish

question 26

Multiple Choice

The local school board received a donation of $1,000,000 to establish a scholarship fund for graduating students. The scholarship is accounted for in a Private-Purpose Trust Fund. The fund would report

• A) Additions of $1,000,000.
• B) Revenues of $1,000,000.
• C) A transfer of $1,000,000.
• D) Capital contributions of $1,000,000.

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Definitions:

Labor-Management Cooperation

A collaborative effort between employers and employees to improve working conditions, productivity, and the overall success of the organization.

U.S. Labor Law

A body of laws, regulations, and judicial decisions that address the legal rights of, and restrictions on, working people and their organizations in the United States.

ESOPs

Employee stock ownership plans, which are employee benefit plans giving workers ownership interest in the company.

Worker Representation

The participation of employees in decision-making processes and governance within an organization, often through unions or employee councils.