A Local Union Must

question 21

Multiple Choice

A local union must:

• A) be affiliated with a national or international union
• B) be part of a Labour Congress
• C) have a business agent
• D) have officers who are responsible for the administration of the local's affairs
• E) a and d

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Definitions:

Compounded Annually

Interest calculation method where interest is calculated on the initial principal as well as the interest accumulated over previous periods, applied once per year.

Annual Sales

The total revenue generated from sales activities over the course of one year.

Compounded Semiannually

A method where interest payments are made on an investment or loan twice each year, leading to interest being earned on previously earned interest.

Annually Compounded

Pertaining to interest on investment or loans that is calculated once a year, adding to the sum each year.