Practice question
A union receives an investment dividend rather than dues. The treasurer omits it from income records because it did not come from members. Which rule applies?
- Every income or revenue requires a record showing source
- Only member-origin cash must be recorded
- Dividends are automatically the treasurer’s property
- Investment income is exempt from all accounting
- The union may never know the source
Legal references
- Labor Code Article250[241] current membership safeguards, read with RA9481: https://lawphil.net/statutes/presdecs/pd1974/pd_442a_1974.html Paragraphs(b),(j)–(m).
- RA9481 Sections3,5,7, current cancellation/reporting rules: https://lawphil.net/statutes/repacts/ra2007/ra_9481_2007.html Section7 no automatic cancellation for reporting failure.
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