Which of the Following Is True of Social Security and Medicare

question 1

Multiple Choice

Which of the following is true of Social Security and Medicare?

• A)Eligibility requirements make sure that all Social Security beneficiaries have an absolute economic need for the benefit.
• B)Spending on TANF and SSI exceeds the total of all spending of public assistance programs.
• C)Most retirees are not eligible to receive Social Security benefits.
• D)Social Security income is decided as follows: the lower your income while working,the larger your Social Security benefit upon retirement.
• E)Families in the top fifth of the income population receive more in Social Security and Medicare benefits than the government spends in total on TANF,SSI,food stamps,and housing subsidies for the poor.

---

Definitions:

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Net Credit Sales

The total value of sales made on credit minus any returns or allowances.

Allowance for Doubtful Accounts

A balance sheet account representing the estimated percentage of accounts receivable that may not be collected.

Net Credit Sales

The total value of credit sales minus returns and allowances over a specific period, indicating the true revenue generated from credit transactions.