The Profit for a Particular Project of Blue Fin Ltd,using

question 16

Multiple Choice

The profit for a particular project of Blue Fin Ltd,using the percentage of completion method,was $470 000 for year 1 and $690 000 for year 2 (completion) .
-What difference would there be to the total profit for two years if the completion of production method were used?

• A) Profit would be $1 160 000 higher.
• B) Profit would be $690 000 higher.
• C) Profit would be $470 000 higher.
• D) There would be no difference.

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Definitions:

Union Shop Agreements

Contracts requiring all employees of a business to join the union within a certain period of starting employment and to maintain membership as a condition of employment.

Wagner Act

Also known as the National Labor Relations Act of 1935, this law established the rights of employees to form unions, engage in collective bargaining, and participate in strikes and other concerted activities.

Unfair Labor Practices

Actions by employers or unions that violate workers' rights or the laws governing labor relations.

Wagner Act

A foundational U.S. law enacted in 1935 to protect workers' rights to organize and to promote collective bargaining.