With Larger Numbers of Americans Aged 65 and Over, What

question 57

Multiple Choice

With larger numbers of Americans aged 65 and over, what government programs will face difficult challenges as America approaches the mid-twenty-first century?

• A) NASA and food stamp programs
• B) Social Security and Medicare
• C) Medicaid and welfare programs
• D) National parks and environmental grants
• E) Arts and education programs

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Definitions:

Operating Line

A revolving credit facility extended by a bank to a business to fund its day-to-day operations.

Notes Payable

Debt instruments or formal written agreements to pay a specified sum of money at a future date.

Financial Statements

Formal records of the financial activities and position of a business, individual, or other entity.

Prepaid Property Tax

An expense paid in advance for property taxes, recognized as an asset until the period the tax covers.