Which of the Following Is True About the Older Workers

question 74

Multiple Choice

Which of the following is true about the Older Workers Benefit Protection Act (OWBPA) ?

• A) It has set the maximum retirement age for employees to be eligible for retirements benefits at 60 years.
• B) The Age Discrimination in Employment Act was enacted in 1990 as an amendment to the OWBPA.
• C) It sets forth certain conditions that must be met when older workers are offered early retirement.
• D) The Older Workers Benefit Protection Act did not cover employees in the government sector.

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Definitions:

Prepaid Subscriptions

Payments made in advance for subscription-based services or products, recognized as assets until the services or products are received.

Calendar-Year

A one-year period that begins on January 1 and ends on December 31, used by businesses for accounting and tax purposes.

Adjustment

An adjustment in accounting refers to entries made in journal accounts that correct errors or account for expenditures that have not been recorded through the usual processes.

Reversing Entries

Journal entries typically made at the beginning of an accounting period to negate certain adjusting entries made in the previous period for the sake of simplicity in accounting.