Which of the Following Is Not Part of the Social

question 57

Multiple Choice

Which of the following is not part of the social security program?

• A) Federal Income Tax Law
• B) Federal Old-Age and Survivors' Trust Fund
• C) Medicare
• D) Self-Employment Contributions Act
• E) All are part of the social security program

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Definitions:

Equity Method

An accounting technique used to record investments in associated companies, where the investment is initially recorded at cost and subsequently adjusted for the investor's share of the investee's net profit or loss.

Proportionately Adjusted Retained Earnings

Retained earnings adjusted in proportion to ownership interest in a company or investment.

Equity Method

A method of accounting for investments reflecting the investor's share of the earnings or losses of the investee in the investor's financial statements.

Contractual Agreement

A legally binding agreement between two or more parties that outlines the terms and conditions of an arrangement.