Which of the following terms refers to a one-time payment some employers provide when terminating an employee?
A) merit pay
B) annual bonus
C) severance pay
D) performance pay
E) competency-based pay

Question

Quizplus · Accepted Answer

Severance pay is a one-time payment made by an employer at the time of termination. Merit pay, annual bonus, performance pay, and competency-based pay are all forms of ongoing compensation for employees who are still employed.

Which of the Following Terms Refers to a One-Time Payment