Negotiating the Initial Contract Between the Union and Management Can

question 38

Multiple Choice

Negotiating the initial contract between the union and management can be difficult and time consuming because:

• A) The parties are unfamiliar with each other
• B) Both parties must start without any contract language about working conditions, wages, and benefits
• C) Neither sides want the other to "win"
• D) Employees often reconsider and terminate their union contract within the first three months after unionizing

---

Definitions:

Holding Period

The length of time an investment is held by an investor, influencing tax treatment of gains or losses upon disposal.

Adjusted Basis

The net cost of an asset after adjusting for various tax-related items including improvements, sales, depreciation, and damage.

Assumes Liability

The act of taking on legal responsibility or debt from another party, often occurring in business acquisitions or financial agreements.

Amount Realized

The total sum received from a transaction, including money and the fair market value of any property or services received, before subtracting any costs.