Explain the primary purpose of the European Union and its stance on labor standards for member countries.
What will be an ideal response?
The European Union was formed primarily out of political, rather than economic needs. The primary method of achieving integration, however, has been economic. Economic concerns prevail over labor and social concerns as the EU takes the perspective that economic prosperity will drive positive social changes, including better treatment of workers. That said, there has been concern with labor standards to establish basic human rights and prevent social dumping between member countries. As a result, the Community Charter of Fundamental Social Rights of Workers, or Social Charter, was adopted in 1989 to outline desired standards on freedom of movement, fair remuneration, equal treatment for men and women, health and safety protections, working conditions, vocational training, freedom of association and collective bargaining, and rights to information, consultation, and business decision participation for workers.
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A negotiated transfer price is often used for internal pricing
Indicate whether the statement is true or false
In an experiment, only the factor under investigation is manipulated; all other factors remain constant
Indicate whether the statement is true or false
The price variance for direct labor is called the:
A. direct labor rate variance. B. direct labor price variance. C. direct labor quantity variance. D. indirect labor variance.
Holiday DeCor Company is insured by a commercial general liability policy (CGL). Holiday DeCor rented a storage facility for one month to store some excess inventory
While visiting the storage facility, a Holiday DeCor employee discarded a cigarette. The resulting fire severely damaged the storage facility. Which statement is true regarding coverage of this damage under the CGL? A) There is no coverage as the damage occurred at a rented premises. B) There is no coverage because property damage liability is excluded. C) The damage is covered under the fire legal liability coverage. D) There is no coverage because an employee of Holiday DeCor caused the loss.