The Last Step of the Accounting Cycle Is to Prepare

question 88

True/False

The last step of the accounting cycle is to prepare a post-closing trial balance.

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Definitions:

Decertify

The process through which a union is officially stripped of its status as the representative of a group of workers, often following a vote among the workers themselves.

NLRB

Stands for the National Labor Relations Board, a federal agency in the United States that enforces labor laws in relation to collective bargaining and unfair labor practices.

Decertification Election

A voting process in which employees can remove union representation from their workplace.

Authorization Cards

Authorization cards are signed by employees to indicate their desire for a labor union to represent them; these cards can trigger a formal representation election if a sufficient percentage of workers sign.