Argyle Designs Inc

question 18

True/False

Argyle Designs Inc.has entered into a contract to design 20 new dresses for a customer.It will collect a total of $40,000 after the design services are complete.Argyle started design work on June 1.As of June 30,it finished 4 of the 20 designs.The company will make an adjusting entry at the end of June to accrue $10,000 of service revenue.

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Definitions:

Grievance

Formal complaint filed by an employee or a union that management is violating some provision of a union contract.

Mediation

Dispute resolution process that uses a third party, called a mediator, to make recommendations for settling labor–management differences.

Strike

Temporary work stoppage by employees until a dispute is settled or a contract signed.

Lockout

Management decision to put pressure on union members by closing the firm.