Which of the Following Is True About Arbitral Criteria

question 16

Multiple Choice

Which of the following is true about arbitral criteria?

• A) Managements and unions always differ in their choice of an arbitrator.
• B) The ability-to-pay issue may retard gains when revenues do not support wage demands.
• C) Arbitrators are more concerned about the actual ability to pay than are elected officials.
• D) Economic awards are most frequently shaped by cost of living.

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Definitions:

Transactions

Financial events that affect the assets, liabilities, and equity of a company.

Multiple-Step Income Statement

An income statement that separates operational revenues and expenses from non-operational ones to calculate net income.

Single-Step Income Statement

A simplified income statement that summarizes revenues and expenses in a single step, without categorizing them.

Sales Revenue

Financial income derived from transactions involving the sale of products or provision of services over an interval of time.