Originally, Courts Ruled Against Unions on the Basis That

question 62

Multiple Choice

Originally, courts ruled against unions on the basis that

• A) a union could be made only between a husband and a wife.
• B) unions would increase prices of goods.
• C) unions were collecting dues without a licence.
• D) unions were conspiring to restrain trade.
• E) unions were not incorporated.

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Definitions:

Interest Payable

The amount of interest expense that has been incurred by a company but has not yet been paid to the creditor; it is a liability on the balance sheet.

Current Liability

Obligations that a company needs to settle within one fiscal year or its current operating cycle, whichever is longer, often including accounts payable, short-term loans, and accrued expenses.

Accounts Payable

Amounts a company owes to creditors for items or services purchased on credit.

Mortgage Payable

A liability represented by a legal agreement granting a lender a lien on real estate property as security for the repayment of a loan.