Bargaining Does NOT Normally Occur in

question 41

Multiple Choice

Bargaining does NOT normally occur in

• A)vertical business relationships.
• B)wages and working conditions under a union contract.
• C)posted price markets.
• D)the legal system.

---

Definitions:

Opening Balance Equity

An account used in accounting software to offset discrepancies when establishing opening balances during the initial setup of the financial records.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for, considered an asset on the balance sheet.

Supplies On Hand

The inventory of materials and goods currently available in a business for use or sale.

Adjustment

A process of altering financial records or accounts to correct any discrepancies or errors.