11-4. Discuss the differences between enhanced benefits and perquisites.
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11-4. Discuss the differences between enhanced benefits and perquisites. |
Chapter 11, End Of Chapter, Discussion Questions, Exercise 11-4
Page 276
Here is a tip:
Perquisites are designed to allow an executive to attend to business matters by limiting distractions.
Explanation
Enhanced protection program benefits include additional life insurance and generous retirement plans.
These are offered to all employees, but to a lesser degree.
Perquisites, or perks, are additional benefits designed for executives.
Perquisites are designed to indicate status within an organization and a professional community.
Perquisites provide personal comfort as a business tool, provide additional security, and limit distractions while promoting more opportunities to attend to work matters.
Verified Answer
Enhanced benefits are similar to those received by other employees in an organization, but at a higher level.
For example, all employees might receive life insurance or a retirement plan benefit. Executives will receive the same benefit but at an increased level, often at a significantly higher dollar value.
A perquisite is an additional benefit given to an executive, which may include a car and/or a driver, access to a corporate jet, legal services, or additional security.
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