Which of the Following Statements Is True of the Public

question 14

Multiple Choice

Which of the following statements is true of the public assistance programs?

• A)They provide resources based on people's right to receive benefits.
• B)People receiving public assistance benefits never paid premiums, as did people collecting social insurance benefits.
• C)They get their finances from both employer and employee contributions.
• D)Medicare is a public assistance program created by the Social Security Act of 1935.

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Definitions:

Depreciation

The systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption or loss of value over time.

Straight-line Method

A depreciation method that allocates an equal amount of the asset's cost to each accounting period over its expected useful life.

Book Value

The net value of a company's assets as recorded on the balance sheet, deducting liabilities, indicating the shareholder equity.

Residual Value

The projected worth of an asset upon reaching the conclusion of its service period.