An At-Will Employee

question 277

Multiple Choice

An at-will employee:

• A) may not be dismissed for any reason
• B) may only be dismissed for committing a major crime
• C) may only be dismissed for certain reasons specified in the employment contract
• D) may be dismissed at any time without reason or cause
• E) none of the other choices are correct

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Definitions:

Straight-Line Method

A method of calculating depreciation of an asset which assumes the asset will lose an equal amount of value each year over its useful life.

Declining-Balance

A method of accelerated asset depreciation where the depreciation expense decreases over time.

Depreciation Expense

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

Depreciation Produces

An accounting process that allocates the cost of a tangible asset over its useful life, thus producing a systematic reduction in value to reflect wear and tear or obsolescence.