The Old-Age Support Ratio Is

question 15

Multiple Choice

The old-age support ratio is:

• A)the proportion of the population that is 60 years or older over the proportion of the population that is less than 60 years of age.
• B)the proportion of the population that is 65 years or older over the proportion of the population that is 20 to 64 years of age.
• C)the proportion of the population that is 70 years or older over the proportion of the population that is 20 to 69 years of age.
• D)the total government expenditure on programs for the elderly over the number of citizens who are 65 years or older.

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Definitions:

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in the net profit or loss for that period.

Insurance Expense

The cost incurred by an entity to obtain insurance coverage, recognized as an expense over the period the insurance protection is provided.

Retained Earnings

The portion of net income not distributed as dividends but retained by the company to reinvest in its core business or to pay debt.

Adjusted Trial Balance

An adjusted trial balance is a list of all the accounts of a company, including any adjustments, showing the final balances to be used for preparing financial statements.