Upon Termination from a fiRm, the Employer Must Disburse the Former

question 56

Multiple Choice

Upon termination from a firm, the employer must disburse the former employee's final pay ________.

• A) in accordance with state law
• B) immediately
• C) within 24 hours
• D) at the next scheduled payday

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Definitions:

Cash Collections

The process or amount of collecting received payments from customers, typically for goods sold or services rendered.

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or wear and tear.

Cash Budget

A detailed plan showing how cash resources will be acquired and used over a specific time period.

Disbursements

The act of paying out money from a fund or account, typically for expenses or investments.