A Balance Sheet Is Organized in Order of the Accounting

question 104

True/False

A balance sheet is organized in order of the accounting equation, with liabilities first, followed by assets and shareholders' equity.

---

Definitions:

Equal Employment Opportunity Commission

A federal agency in the United States responsible for enforcing federal laws making it illegal to discriminate against a job applicant or an employee because of race, color, religion, sex, national origin, age, disability, or genetic information.

Unfair Labor Practice

Actions by employers or unions that violate the rights of employees or the provisions of labor laws.

Taft-Hartley Act

A 1947 U.S. law that restricts the activities and power of labor unions, including prohibiting certain types of strikes and requiring union leaders to swear they were not communists.

Section 9

In the context of labor relations, often refers to a portion of the National Labor Relations Act concerning the representation of employees for purposes of collective bargaining.