For Most Organizations, Which Group Must Approve the Executive Compensation

question 20

Multiple Choice

For most organizations, which group must approve the executive compensation package?

• A)Shareholders
• B)Security and Exchange Commission
• C)Board of Directors
• D)Internal Revenue Service

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Definitions:

Exclusive Bargaining

A process in labor relations where a single union is designated as the representative of all employees in negotiating with the employer.

Severance Pay

Compensation paid by an employer to an employee who has been laid off or terminated, not due to misconduct.

Reasonable Notice

The legally or contractually required period of notification before a significant change, such as termination of employment.

Common Law

Common law is a body of unwritten laws based on legal precedents established by the courts, and is used in contrast to statutory law.