Once a Person Reaches the Age of 70 Years,about How

question 60

Multiple Choice

Once a person reaches the age of 70 years,about how many more years of survival would be expected?

• A)5
• B)10
• C)15
• D)20

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Definitions:

Chart of Accounts

An organized list of all the different financial accounts used by an entity to categorize transactions.

General Journal

A primary accounting record where financial transactions are entered before posting to specific accounts in the general ledger.

Sales Account

An account used to record the revenue from sales of goods or services by a company during a specific period.

Credit

A journal entry that results in an increase in a liability or equity account or a reduction in an asset or expense account.