Asked by MATTANAPORN CHANTIYANON on May 01, 2024
Verified
When an entity decides to terminate an employee's employment, the offer to pay termination benefits can no longer be withdrawn when the entity has communicated to affected employees a plan of termination that meets which of the following criteria?
A) The plan identifies the location, function or job classification, the number of employees whose services are to be terminated, and the expected completion date.
B) Actions required to complete the plan indicate that significant changes to the plan are unlikely.
C) The plan establishes the termination benefits payable in sufficient detail to enable employees to determine the type and amount of benefits they will receive.
D) All of the above.
Termination Benefits
Employee benefits that are payable as a result of either: (a) an entity’s decision to terminate an employee’s employment before the normal retirement date; or (b) an employee’s decision to accept an offer of benefits in exchange for the termination of employment.
Plan Of Termination
A proposed strategy or arrangement for concluding operations, typically associated with business closures or ending specific contracts.
Expected Completion Date
The projected date when a project or task is anticipated to be finished.
- Ascertain the varieties of employee benefits and the terms impacting their distribution.
Verified Answer
ZK
Zybrea KnightMay 06, 2024
Final Answer :
D
Explanation :
All of the criteria mentioned (identifying the affected employees and expected completion date, indicating unlikely changes to the plan, and establishing termination benefits in detail) are necessary for the offer of termination benefits to become irrevocable.
Learning Objectives
- Ascertain the varieties of employee benefits and the terms impacting their distribution.