What Is the Term for Clauses in Senior Management Contracts

question 20

Multiple Choice

What is the term for clauses in senior management contracts that can compensate executives with millions of dollars in severance pay?

• A)golden parachutes
• B)silver spoons
• C)bomb shelters
• D)indenture agreements

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Definitions:

Voucher Register

A journal or ledger used to record vouchers and their corresponding financial transactions in the accounting cycle.

General Journal

A primary accounting record where financial transactions are entered before being posted to specific accounts in the general ledger.

Sundry Column

A column used in various accounting journals and ledgers to record miscellaneous transactions that do not fit in the specific columns.

Unpaid Voucher File

A record or file keeping track of vouchers that have been issued but not yet settled by payment.