Which of the Following Is True of Early Retirement Programs

question 21

Multiple Choice

Which of the following is true of early retirement programs?

• A) They should be an integral part of a strategy to lay off employees.
• B) Eligibility is usually based on age and years of service.
• C) These programs should be informal.
• D) These programs are often involuntary.

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Definitions:

Procedural Defenses

Procedural defenses are legal strategies used in court to challenge the way in which a case has been handled, focusing on errors in the procedures rather than the substance of the case.

Overdue Instruments

Refers to financial instruments, such as checks or promissory notes, that have not been paid or honored by the specified due date.

Accelerated Due Date

A revised payment date, moved earlier than originally scheduled, usually triggered by a breach of contract terms.

Grace Period

A set time period after a deadline during which a late payment or other obligation may be met without incurring a penalty.