If the Union Refuses to Take an Employee's Concern to Arbitration

question 17

Multiple Choice

If the union refuses to take an employee's concern to arbitration, the employee must sue the union for violation of the:

• A) duty of real representation
• B) duty of union representation
• C) duty of fair representation
• D) duty of legitimate representation
• E) duty of equal representation

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Definitions:

Financial Reporting

Financial reporting involves the disclosure of financial results and related information to management and external stakeholders, such as investors or regulators.

Future Cash Flows

The projected cash receipts and payments a business expects over a period in the future, important for investment and valuation purposes.

Net Income

Profit of a company after all expenses and taxes have been subtracted from total revenue.

Matching Principle

An accounting principle that dictates that expenses should be recognized in the period in which the related revenues are earned, helping to ensure that financial statements are accurate.