Ulyanov Widgets Inc Designs and Manufactures High-Quality Widgets

question 29

Multiple Choice

Ulyanov Widgets Inc designs and manufactures high-quality widgets.The final step in the manufacturing process requires the widgets to be polished to a mirror-like finish.The job of widget polishing requires years of specialized training.Unfortunately, the company has been engaged in a long and heated dispute with the union that represents its widget polishers and their leader, Charles Marks.Neither side is willing to back down; both sides have vowed to win at any cost.Within the context of that debate, which of the following statements is most likely to be TRUE?

• A)As long as the collective agreement has expired, Ulyanov has an absolute right to lockout the employees.
• B)A strike and a lockout are essentially the same strategy; they are simply employed by different parties.Consequently, the same rules will determine the issue of legality if either Marks leads the employees in a strike or Ulyanov locks out its workers.
• C)Even if Ulyanov locks its doors and prevents the widget polishers from working, it has not created a lockout if its decision to do so was part of an irrevocable plan to contract out the task of widget polishing to a third party.
• D)As long as the collective agreement has expired, the union is entitled to go on strike for the purpose of either compelling management to negotiate or supporting a political protest.
• E)In 2015, the Supreme Court of Canada recognized that employers have a Charter right to lockout uncooperative employees.

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Definitions:

Net Income

The amount of money remaining when all operating expenses, interests, taxes, and preferred stock dividends have been deducted from a company's total revenue.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated for use in financial statements and inventory management.

Perpetual Inventory System

An inventory management system where updates are made continuously as transactions occur.

First-In, First-Out

An inventory valuation method where the oldest items are sold or used first.