Which of the Following Statement(s) Is(are) Correct

question 28

Multiple Choice

Which of the following statement(s) is(are) correct?

• A) Companies that use the disclosed basis of accounting are in effect using differential reporting.
• B) Companies that use the disclosed basis of accounting are NOT allowed to use differential reporting.
• C) When used, the disclosed basis of accounting must comply with GAAP.
• D) Both "companies that use the disclosed basis of accounting are NOT allowed to use differential reporting" and "when used, the disclosed basis of accounting must comply with GAAP" are correct.

---

Definitions:

Taft-Hartley Act

A 1947 U.S. federal law that restricts the activities and power of labor unions.

Union Shop Contracts

Agreements requiring employees to join a union within a certain period after being hired.

Right-To-Work State

A state that prohibits agreements between labor unions and employers that make membership, payment of union dues, or fees a condition of employment, either before or after hiring.

Moderate Union

A labor union that adopts a less confrontational stance towards employers and focuses on negotiation and compromise.