_____ Shop Requires That Any Bargaining-Unit Employee Who Was Hired

question 14

Multiple Choice

_____ shop requires that any bargaining-unit employee who was hired after a date specified in the agreement must become a union member within a specific time as a condition of continued employment.

• A) Open
• B) Union
• C) Modified union
• D) Agency

Recognize valid contract assignments and the role of assignees.

Distinguish between oral and written contracts and understand their enforceability.

Explain the significance of the Uniform Commercial Code (UCC) in relation to contract requirements.

Identify and explain exceptions to the statute of frauds.

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Definitions:

Journal

A record where transactions are entered in chronological order before they are posted to ledgers.

Liability

Represents financial obligations or debts that a company or individual owes to others, payable in the future.

Balance Per Books

The ending balance on a company's financial records for an account before any adjustments or reconciliations.

Service Charges

Fees assessed for services provided, often by financial institutions or utilities.