Which of the Following Is a Condition Required by the SEC

question 89

Multiple Choice

Which of the following is a condition required by the SEC for the recognition of revenue?

• A)Completion of goods manufactured.
• B)Execution of a promissory note.
• C)Price in excess of $100.
• D)Reasonable assurance of collection.

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Definitions:

Exclusive Representation

A legal status in which a single labor union represents all employees in a bargaining unit in negotiations with the employer.

Competing Unions

A situation where two or more labor unions within the same workplace or industry vie for membership and representation rights.

Company Dominated Unions

Refers to labor unions that are unduly influenced or controlled by employers, which can undermine the union's effectiveness in representing workers' interests.

Closed Shop Agreements

Labor agreements requiring an employer to hire only workers who are already union members, effectively ensuring a unionized workforce.