What Term Describes Payments Companies Make in Connection with a Change

question 108

Multiple Choice

What term describes payments companies make in connection with a change in ownership or control of a company?

• A)pension
• B)consulting fee
• C)retirement bonus
• D)golden parachute
• E)none of the above

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Definitions:

Bank Service Charge

Fees charged by a bank to its customers for account-related services.

Cash Receipts

The total amount of money, including cash, checks, and credit card payments, received by a business during a given period.

Internal Control Procedures

Processes implemented by a company to ensure integrity of financial and accounting information, promote accountability, and prevent fraud.

GAAP

GAAP stands for Generally Accepted Accounting Principles, which are standardized guidelines and practices for financial accounting and reporting in the U.S.