The Following Summary Balance Sheet Account Categories of Sun Company

question 63

Multiple Choice

The following summary balance sheet account categories of Sun Company increased during 2013 by the amounts shown:

The only change to retained earnings during 2013 was for $26,000 of dividends.What was Sun Company's net income for 2011?

• A)$34,000
• B)$26,000
• C)$18,000
• D)$8,000

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Definitions:

Unfair Labor Practice

Actions by employers or labor unions that violate the rights of employees regarding their collective bargaining or organizational activities, as defined by labor laws.

NLRA

The National Labor Relations Act is a crucial piece of US labor legislation that safeguards employees' rights to form unions and collectively negotiate with their employers.

Final Offer Arbitration

A form of arbitration where the arbitrator must choose one of the final offers presented by the parties involved, with no modifications.

Arbitrator

An independent person or body officially appointed to settle a dispute, often chosen by the parties involved for their expertise in a specific area.