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 is this cheque?

Question

Quizplus · Accepted Answer

The cheque represents Bob's severance pay, as it is a lump sum payment given to an employee who has been permanently laid off as a form of compensation for losing their job. It is typically calculated based on the employee's years of service with the company.

Bob Jones Has Just Been Permanently Laid Off from His