Work Rules

question 16

Multiple Choice

Work rules:

• A) must be specific in nature.
• B) reflect the dynamic nature of labor management relationships and are sometimes applicable to many occupations.
• C) reflect the dynamic nature of labor management relationships and must be specific in nature.
• D) are sometimes applicable to many occupations.
• E) reflect the dynamic nature of labor management relationships.

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Definitions:

Depreciation

Depreciation is the systematic allocation of the cost of a tangible asset over its useful life to reflect its decrease in value due to wear and tear, age, or obsolescence.

Depreciable Cost

The total cost of a tangible fixed asset that is subject to depreciation over its useful life, including purchase price, installation charges, and other costs necessary to bring the asset into usable condition.

Straight-Line Method

A method of calculating depreciation in which an asset's cost is divided evenly over its estimated useful life.

Salvage Value

An asset's predicted market price upon exhausting its useful life.