Bob Jones was recently permanently laid off. His company, ACME Manufacturing, has issued Bob a cheque that represents one month's pay for every year Bob worked at ACME. What does this cheque represent?

Question

Quizplus · Accepted Answer

The cheque represents Bob's severance pay, which is compensation given to an employee upon termination of employment. It is often based on the length of employment, as described in the scenario.

Bob Jones Was Recently Permanently Laid Off