Bob Jones has just been permanently laid off from his present position. 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 that ACME Manufacturing has issued Bob represents his severance pay, which is a compensation paid by the company to an employee who has been laid off or terminated from their job. The amount of severance pay is typically calculated based on the employee's length of service and their salary. In this case, Bob was paid one month's pay for every year that he worked at ACME.

Bob Jones Has Just Been Permanently Laid Off from His