All of the Following Have Contributed to Retirement Trends in the U.S

question 12

Multiple Choice

All of the following have contributed to retirement trends in the U.S. EXCEPT

• A) early Social Security benefits were introduced in 1961.
• B) pensions and other benefits for early retirees are commonly available in government and private industry.
• C) most companies have early retirement inducements in their pension plans.
• D) most companies offer incentives for workers to work continue working beyond age 65.

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Definitions:

Unearned Revenue

This is income received by a business for goods or services yet to be delivered or performed. It's considered a liability until the product or service is delivered.

Cash Payment

A transaction in which a payment is made using physical currency or through a digital cash transfer rather than credit.

Deferred Tax Asset

An asset on a company's balance sheet that may be used to reduce future tax liability; it arises when a company has overpaid taxes or paid them in advance.

Wages Expense

An accounting term that refers to the total cost incurred by a company to pay its employees, recognized in the period employees perform the work.