In Order for Accounting Information to Be Relevant, It Must

question 217

Multiple Choice

In order for accounting information to be relevant, it must

• A) have very little cost.
• B) help predict future events or confirm prior expectations.
• C) not be reported to the public.
• D) be used by a lot of different firms.

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Definitions:

Collective Bargaining

The process where union representatives negotiate labor contracts with employers concerning wages, working conditions, and other employment terms.

Unions

Organizations that represent the collective interests of workers in negotiations with employers regarding pay, working conditions, benefits, and other labor issues.

Company Profits

The financial gains made by a company after all expenses have been paid.

Union Workers

Staff members part of a labor union tasked with representing their concerns during negotiations with employer entities.