Which of the Following Is One Reason Why the Certification

question 29

Multiple Choice

Which of the following is one reason why the certification process was established?

• A) To provide an alternative other than striking for employees to express their concerns
• B) To eliminate the occurrence of unfair labour practices
• C) To increase union dues
• D) All of the above

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Definitions:

Income Summary

An account in the ledger that is used to transfer the balances of revenue and expense accounts at the end of an accounting period to determine the net income or loss.

Net Income

The total earnings of a company after subtracting all costs and expenses from revenues; also known as net profit.

Revenue Accounts

Accounts that track the income a company generates from its normal business activities, typically from the sale of goods and services to customers.

Expense Accounts

Accounts used to record the consumption of economic benefits during the operational period, contributing to revenue generation.