Which of the Following Statements Is True About Good Faith

question 4

Multiple Choice

Which of the following statements is true about good faith bargaining?

• A) "Good faith" bargaining involves not only attempting to reach an agreement,but also resolving any disputes about what the agreement means during the period in which it's in effect.
• B) Failing to reach an agreement is a measure of "bad faith".
• C) It is unnecessary to return to bargaining after an impasse is reached.
• D) Good faith bargaining requires both parties to agree to a proposal of the other or to make a concession.

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Definitions:

AICPA

Stands for the American Institute of Certified Public Accountants, a professional organization that sets ethical and auditing standards for the accounting profession in the United States.

Comprehensive Income

The total change in equity for a reporting period, excluding any transactions from owners (such as dividends).

Net Income

The total profit of a company after all expenses, including taxes and interest, have been deducted from total revenue.

Distributions

Payments made from a company or a fund to its shareholders, often from profits or reserves.