All Except One of the Following Are Features of Labour

question 59

Multiple Choice

All except one of the following are features of labour legislation in Canada.Identify the exception.

• A) Methods to certify a union.
• B) Maximum length of the collective agreement (maximum 3 years).
• C) Regulation of strike and lockout activities.
• D) Responsibility to bargain in good faith with the intention to reach an agreement.
• E) Creation of a labour relations board.

Understand how to calculate free cash flow from provided financial information.

Analyze and determine cash payments to suppliers based on inventory and accounts payable changes.

Understand the direct method of reporting cash flows from operating activities, including the calculation of cash payments for operating expenses.

Gain proficiency in identifying items that impact the statement of cash flows, including operational and non-operational activities.

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Definitions:

Reversing Entries

Optional bookkeeping technique in which certain adjusting entries are reversed or switched on the first day of the new accounting period so that transactions in the new period can be recorded without referring back to prior adjusting entries.

Accruals

Accounting adjustments for revenues earned or expenses incurred which have not yet been received or paid, respectively.

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances to their correct amounts.

Normal Balance

The side (debit or credit) of an account that is normally expected to have a higher balance, indicating its increase.