What are the major forms of union security clauses found in contracts (in order of preference to the union)?

What will be an ideal response?


Although the union would like to have a closed shop—an employee must be a member of the union prior to being employed by the organization—the Taft-Hartley Act made that practice illegal. The most common form of union security clause is the union shop. In the union shop, an employee does not have to be a union member when hired, but must join the union after a stated probationary period of time. The next most desirable form of union security is the agency shop. In this agreement, an employee never has to join the union, but must pay the union the equivalent of union dues. A less desirable agreement for the union is the maintenance of membership agreement. This is less desirable because there is no requirement for an employee to join the union or pay union dues, only the requirement that if the employee was a member of the union at the time of signing of the contract that the employee must maintain their membership throughout the duration of the contract. The least desirable clause is the open shop. With the open shop there is no requirement of union membership for the employee and no financial obligations to the union.

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Firms account for leases using either the operating lease method or the capital (finance) lease method. Which of the following is true?

a. The operating lease method treats leases as executory contracts. b. The operating lease method recognizes a leased asset on the lessee's statement of cash flows. c. The operating lease method recognizes a lease liability on the lessee's balance sheet. d. Under the operating lease method, the lessor does not recognize rent revenue as the lessee uses the leased asset over time. e. Under the operating lease method, the lessee does not recognize rent expense as the lessee uses the leased asset over time.

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The comparative degree of an adjective is formed by adding "er" to the positive form or by inserting the word "more" or "less" before it

Indicate whether the statement is true or false

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The purpose of safety stock is to:

A) replace failed units with good ones. B) eliminate the possibility of a stockout. C) eliminate the likelihood of a stockout due to erroneous inventory tally. D) control the likelihood of a stockout due to variable demand and/or lead time. E) protect the firm from a sudden decrease in demand.

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The local building supply store experienced what they considered to be irregular demands for lumber after the devastating hurricane season. These unusual data points were considered:

A) nonbase data. B) outliers. C) residuals. D) erroneous.

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