Which of the Following Statements About Collective Bargaining Is False

question 272

Multiple Choice

Which of the following statements about collective bargaining is false?

• A) A contract is usually arrived at through the process of arbitration.
• B) It begins with the recognition of the union as the exclusive negotiator for its members.
• C) It is the process of negotiating labour agreements.
• D) It involves union representatives and employer representatives.
• E) It involves the ongoing process of administering existing agreements.

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Definitions:

Direct Labor Cost

The cost of wages and benefits for employees directly involved in the production of goods or services.

Work in Process Inventory

The value of materials, labor, and overhead costs for products that are partially completed in the manufacturing process.

Overapplied Overhead

A situation in cost accounting where the allocated manufacturing overhead costs are more than the actual overhead costs incurred.

Underapplied Overhead

Occurs when the allocated or applied overhead costs in the production process are less than the actual overhead costs incurred.