MATCHING KEY TERMS AND DEFINITIONS

question 47

Multiple Choice

MATCHING KEY TERMS AND DEFINITIONS
-The technique whereby a neutral third party conducts a hearing to gather evidence and testimony from the parties regarding the differences between them.

• A)Fact-finding
• B)Wagner Act
• C)Dues checkoff
• D)Lockout
• E)Federal Mediation and Conciliation Service (FMCS)
• F)Open shop
• G)Maintenance of membership
• H)Union security arrangements
• I)Railway Labor Act
• J)Wildcat strike
• K)National Labor Relations Board (NLRB)
• L)Agency shop
• M)Right to work laws
• N)Grievance procedure
• O)Authorization card

Recognize the role and characteristics of current liabilities in financial statements.

Explain the taxation requirements for employers including payroll taxes and federal income taxes.

Understand the classification and recognition of liabilities on the balance sheet.

Acknowledge the importance of internal controls in managing cash payments and payroll.

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Definitions:

Economic Revival

Refers to the process of economic recovery following a period of recession or depression, marked by an increase in production, employment, and consumer spending.

New Federalism

A political philosophy that advocates for the transfer of certain powers from the federal government back to the states, aiming to increase local control and reduce the scope of federal authority.

General Revenue-Sharing

A federal program initiated in 1972 that provided state and local governments with funds to be used at their discretion, without specific requirements on how to spend them.