Simon, Who Is Philosophically Opposed to Unions, Often Says, "Why

question 141

Multiple Choice

Simon, who is philosophically opposed to unions, often says, "Why should I be required to join an organization I don't agree with, or pay a fee to support it financially? I thought this was a free country, but I don't feel very free when I'm told that I'll lose my job if I don't join the union. It just isn't fair." Simon's comments suggest he favors a(n) ________ shop arrangement.

• A) closed
• B) open
• C) regulated
• D) certified

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Definitions:

General Journal Entries

The initial records of financial transactions, entered in the general journal, before they are posted to specific accounts in the general ledger.

Terms of Sale

The conditions under which a seller agrees to sell and a buyer agrees to buy, including payment terms, delivery time, and warranties.

Credit Terms

The conditions under which credit is extended by a seller to a buyer, including the repayment period, discount for early payment, and late penalty.

General Journal Entries

The record of financial transactions in the general journal, a part of the double-entry bookkeeping system.