Union Shops Are Illegal in the State of North Carolina

question 126

Multiple Choice

Union shops are illegal in the state of North Carolina. This means that North Carolina:

• A)is violating federal law.
• B)has passed a right-to-work law.
• C) allows firms to use yellow-dog contracts.
• D)is taking advantage of a loophole in the National Labor Relations Act.

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Definitions:

Net Income

The total profit of a company after all revenues, expenses, and taxes have been deducted.

Inventory Valuation

The method used to assign a monetary value to inventory, considering the cost of goods sold and the current market value.

LIFO

Last In, First Out, an inventory valuation method where the last items acquired are the first sold.

Work in Process

Inventory that includes goods that are in the production process but are not yet completed.