The Justification for Dues or Fees Paid by Nonunion Members

question 246

Multiple Choice

The justification for dues or fees paid by nonunion members to the union in a(n) ________ shop is that the union represents all workers in collective bargaining, not just those who belong to the union.

• A) closed
• B) agency
• C) fee simple
• D) union

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Definitions:

Consolidated Balance Sheet

A financial statement that aggregates the financial position of a parent company and its subsidiaries, presenting it as one single entity.

Consolidation Elimination

The process of removing internal transactions and balances between entities within a single group to prepare consolidated financial statements.

Equity Method

An accounting technique used to record investments in affiliate companies where the investor has significant influence but not full control, typically between 20% and 50% ownership.

Subsidiary's Income

The earnings generated by a company that is more than 50% owned by another company, referred to as the parent company.