The Average Annual Cost of Nursing Home/long-Term Care Is _____

question 37

Multiple Choice

The average annual cost of nursing home/long-term care is _____ while that for assisted living is _____

• A) $40,000 ; $75,000.
• B) $65,000 ; $100,000.
• C) $100,000 ; $65,000.
• D) $75,000 ; $40,000.

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Definitions:

Normal Balance

The side (debit or credit) of an account that is expected to have a greater value, depending on the account type.

Financial Statement

A written record that conveys the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Account Category

A classification for accounting entries that helps organize financial transaction records, such as assets, liabilities, or expenses.

Income Statement

A financial statement showing a company's revenues, expenses, and profits over a specified period.