Which of the Following Statements Is TRUE of the Operation

question 50

Multiple Choice

Which of the following statements is TRUE of the operation of a construction industry unit?

• A) In the construction industry, an employer may begin to bargain with a union before any employees are hired for a new project.
• B) A construction industry unit is required to show that it represents a majority of the employees in an appropriate bargaining unit before it bargains with the employer.
• C) For a Project Labor Agreement to be applicable, it is required that only union labor is used on the project.
• D) A Project Labor Agreement gives a union leverage in securing necessary permits, resulting in a "labor monopoly" on the project.

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Definitions:

Chart of Accounts

The Chart of Accounts is a systematic list of all accounts used by an organization, essential for classifying and organizing financial transactions within the general ledger.

Expense Account

An account where costs associated with the operations of a business, such as rent, utilities, and salaries, are recorded.

Asset Account

An account that represents a tangible or intangible item of value owned by a company, such as cash, inventory, or equipment.

Revenue Account

An account that records the income earned from normal business operations, such as sales of goods or services.