In Terms of the Biblical Promise of "Three Score and 10

question 19

Multiple Choice

In terms of the biblical promise of "three score and 10" years (that is, 70 years) , average human life expectancy in the United States:

• A)Exceeded that figure early in the 20^th century
• B)Surpassed that figure during the latter portion of the 20^th century
• C)Did not reach that figure until the first few years of the 21^st century
• D)Has not yet achieved that figure
• E)Is a limit that no individual can surpass

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Definitions:

Note Payable

A written promise to pay a specific sum of money on a certain date or upon demand to the bearer or order.

Discounted Notes

Notes or bonds sold for less than their face value in order to reflect current market interest rates or the issuer's credit risk.

Contra-Asset Account

An account on a company's balance sheet that offsets or reduces the value of an associated asset account.

Reconciling Items

Entries that are made to adjust the books of accounts in order to ensure that two sets of records (usually the bank statement and the company's records) are in agreement.