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Kyle Just Started His New Position with a Large Cola

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Kyle just started his new position with a large cola company. Part of his orientation was to provide banking information for deposit of his salary into his bank account as opposed to receiving a payment via a company cheque. What is this component of employee compensation called?


Definitions:

Obsolescence

The process of becoming outdated or no longer used, often because of advancements in technology.

Depreciation Expense

An accounting method used to allocate the cost of a tangible asset over its useful life.

Residual Value

The estimated value that an asset will have at the end of its useful life.

Estimated Life

The expected period over which an asset will be utilized or useful, often used for the purpose of depreciation or amortization calculations.

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