Executives Often Negotiate Generous Severance Packages That They Receive If

question 18

Multiple Choice

Executives often negotiate generous severance packages that they receive if the company is taken over by another.These are known as __________.

• A)silver linings
• B)fringe benefits
• C)maquiladoras
• D)life insurance
• E)golden parachutes

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Definitions:

Journal Entries

Entries made in a journal documenting every financial transaction of a business and used as the first step in the accounting cycle.

Outstanding Checks

Checks that have been written and recorded in the payer's accounting records but have not yet been cashed or deposited by the payee.

Petty Cash

A modest sum of money maintained in reserve for small, unplanned costs.

Journal Entry

A record in the accounting journal that represents a transaction and shows the debits and credits to various accounts.