A Union Shop Requires a Person to Join the Union

question 2

True/False

A union shop requires a person to join the union within a certain time period of joining the organization.

---

Definitions:

Capital Lease

A lease arrangement that is recorded as an asset on the lessee's balance sheet, essentially treated as a purchase of the leased asset for accounting purposes.

Transfer of Ownership

The act of passing the legal title of an asset from one entity or individual to another.

Economic Life

The estimated period over which an asset is expected to be economically useful to the owner.