Which of the Following Is NOT True About Social Security

question 72

Multiple Choice

Which of the following is NOT true about Social Security?

• A) Social security consists of four main programs: OASI, DI, Medicare, and SSI.
• B) Employers and employees share the cost of contributions for the employees' benefit.
• C) The purpose is to provide full retirement to almost all employees.
• D) Self-employed individuals pay the full cost of contributions for their benefit.

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Definitions:

Liquidation

The process of winding up a company's operations, selling off its assets to pay off debts, and distributing any remaining assets to shareholders.

Treasury Stock

Shares that were once a part of the outstanding shares of a company's stock but were later repurchased by the company and are now held in the company’s treasury.

Shareholders' Equity

The residual interest in the assets of a corporation that remains after deducting its liabilities, often referred to as stockholders' equity or owners equity.

Common Stock

A type of equity security that represents ownership in a corporation, granting holders a share of profits in the form of dividends and voting rights.