Which Statement About Employment Contracts in Union and Nonunion Organizations

question 35

Multiple Choice

Which statement about employment contracts in union and nonunion organizations is not correct?

• A)All employer-employee relations include employment contracts.
• B)Nonunion employment contracts are negotiated on an individual basis; they are usually implicit, informal, and not written.
• C)Union employment contracts are developed through collective bargaining and affect all union members.
• D)Union employment contracts are usually explicit, formal, and written legal contracts.
• E)All of these statements are correct.

---

Definitions:

Common Shares

Equity securities that represent ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.

Contingency Reserves

Funds or resources set aside to cover unexpected costs or losses in a project, program, or portfolio, providing a financial cushion.

Accelerated Depreciation

A method of depreciation that allows for a higher expense deduction in the early years of an asset's life, decreasing its book value more quickly.

Goodwill

Goodwill is an intangible asset that arises when a company acquires another business for a price higher than the fair value of its net tangible assets, representing aspects such as brand reputation and customer loyalty.