A Closed Shop Is an Organization

question 35

Multiple Choice

A closed shop is an organization

• A)that is closed on holidays.
• B)in which an employee must belong to the union before he or she can work.
• C)that does not require workers to be union members in order to be hired, but does require them to join the union within a certain period of time after becoming employed.
• D)set up by the federal government to train ex-convicts to become productive workers.
• E)none of the above

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Definitions:

Formal Credit Instrument

A legal document that represents an agreement to extend credit, specifying the terms under which credit is provided and must be repaid.

Maturity Date

The specified date on which the principal amount of a financial instrument is due to be paid in full.

Note's Issue Date

The date on which a promissory note or bond is issued, marking the beginning of the obligation.

Due Date

The due date is a specific date by which an obligation, such as a payment or task, must be completed.