By What Year Will the Number of Children from Birth

question 7

Multiple Choice

By what year will the number of children from birth to nine years of age be exceeded by the number of people over sixty years old?

• A) 2020
• B) 2030
• C) 2040
• D) 2050

---

Definitions:

Accrual

The accounting principle of recording revenues and expenses when they are incurred, regardless of when cash transactions occur.

Vacation Pay

Compensation owed to employees for their entitled but unused vacation time, often recognized as a liability on the balance sheet.

GAAP

An aggregation of universally recognized rules and standards in accounting for presenting financial information.

Non-Interest-Bearing Note

A type of promissory note that does not accrue interest over its life, with the borrower repaying only the principal amount borrowed.