Which of the Following Is Not Correct

question 123

Multiple Choice

Which of the following is not correct?

• A)Government debt cannot continue to rise forever.
• B)If the government uses funds to pay for useful programs, on net the debt need not burden future generations.
• C)Social Security transfers wealth from younger generations to older generations.
• D)The average U.S.citizens' share of the government debt represents less than 2 percent of her lifetime income.

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Definitions:

Intangible Assets

Non-physical assets that have a value to the company, such as intellectual property, brand recognition, and goodwill.

Current Liabilities

Short-term financial obligations a company owes and is expected to pay within one year or within its operating cycle.

Current Assets

Current assets refer to all assets that a company expects to convert into cash or use up within one year or its operating cycle, whichever is longer, including cash, inventory, and accounts receivable.

Statement Of Financial Position

A financial statement that details an entity's assets, liabilities, and shareholders' equity at a specific point in time, offering a snapshot of its financial condition.