Which of the Following Is a Factor in the Increase

question 22

Multiple Choice

Which of the following is a factor in the increase of the number of elderly people in institutions?

• A)Changes in family life
• B)Diminished resources among the elderly
• C)Both A and B
• D)Neither A nor B

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Definitions:

Short-term Gain

Profit realized from the sale of assets held for a year or less, subject to taxes at ordinary income rates in many jurisdictions.

Long-term Gain

The profit from the sale of an asset held for more than a year, subject to lower capital gains tax rates.

Investment Portfolio

A collection of assets including stocks, bonds, mutual funds, and other investments held by an individual or an institution.

Recognize

In an accounting context, to recognize is to formally record an item within the financial statements of an entity, acknowledging its existence or occurrence.