The Factor That Distinguishes Fixed Assets Such as Property, Plant

question 18

Multiple Choice

The factor that distinguishes fixed assets such as property, plant and equipment from other assets is the:

• A) intention to sell the asset.
• B) fact that they have a physical existence.
• C) fact that the asset will provide future benefits.
• D) intention to use the asset for the future production of goods and services.

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Definitions:

Taft-Hartley Act

A 1947 federal law that restricts the activities and power of labor unions within the United States.

Certification Election

A formal process in which employees vote to decide whether they wish to be represented by a union.

Picketing

Occurs when workers representing the union march at the entrance to the employer’s facility with signs explaining their reasons for striking.

Price Floor

A government- or authority-imposed price control or limit on how low a price can be charged for a product.