An Employer Has Made a Financial Decision to Lay-Off Workers

question 1

Multiple Choice

An employer has made a financial decision to lay-off workers.Shane has decided to invoke her bumping rights.The collective agreement allows bumping, but specifically prohibits bumping up.Which of the following is most likely to be TRUE?

• A)Shane can move into a more junior position for which she is qualified, without suffering any reduction in pay.
• B)Shane can move into a more senior position for which she is qualified.
• C)Shane can move into a more junior position for which she is qualified.
• D)Shane can choose to move into any other position in the organization that is not subject to layoff.

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Definitions:

Single-entry System

A basic accounting method where entries are recorded only once, either as an expense or income, making it less intricate but less accurate than the double-entry system.

Double-entry Bookkeeping

An accounting system that records each transaction twice, as both a debit in one account and a credit in another, to ensure accuracy.

Accounting Equation

The fundamental equation representing the relationship between an entity's assets, liabilities, and owners' equity: Assets = Liabilities + Equity.

Owner's Equity

The residual interest in the assets of a business after deducting its liabilities, representing the ownership's claim on the company's resources.