The Significance of the Railway Labor Act Is That It

question 2

Multiple Choice

The significance of the Railway Labor Act is that it:

• A)Was declared unconstitutional and was seen as a major blow to the labor movement.
• B)Set the stage for national legislation that protected workers rights to unionize and bargain collectively.
• C)Was the first major piece of labor legislation to require collective bargaining in all industries.
• D)All of the above.

---

Definitions:

Adjusting Entry

An entry made in the accounting journals at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Financial Statements

Financial Statements are formal records of the financial activities and position of a business, person, or entity, including the balance sheet, income statement, and statement of cash flows.

Yearly Subscriptions

Recurring payments made on an annual basis for continued access to a product or service.

Employer's Payroll Tax

Taxes that employers are required to pay on behalf of their employees, based on the salary the employees earn, including social security and Medicare taxes in the United States.