An Independent Third Party Can Step in and Settle Disputes

question 114

Multiple Choice

An independent third party can step in and settle disputes that arise during the negotiation of a first contract between union and employer. Which of the following names this process?

• A)first contract conciliation
• B)first contract arbitration
• C)first offer mediation
• D)final offer arbitration

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Definitions:

Long-Term Investments

Assets or securities that are held for an extended period, typically over one year, for capital growth or income generation.

Planning

The process of making plans for something, including setting goals, defining actions to achieve the goals, and mobilizing resources to execute the actions.

Managing

The process of directing, controlling, and administrating an organization or effort towards achieving a set goal.

Capital Budgeting

The process used by companies to evaluate and prioritize major investments and expenditures.