Which Statement Is True About the Cost of Health Care

question 72

Multiple Choice

Which statement is true about the cost of health care for older adults?

• A) In the United States, government health-care spending decreases with age.
• B) According to current estimates, the cost of Medicare will be cut in half by 2030.
• C) Older Americans spend several times as much on health care as their counterparts do in other industrialized nations.
• D) Older adults make up 14 percent of the U.S. population but account for half of the government health-care costs.

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Definitions:

Reporting Period

A specific duration of time for which financial activities and performance are recorded and reported.

Governmental Funds

Categories of funds used by governments to account for financial resources devoted to specific purposes other than business-type activities.

Current Financial Resources

Refers to the liquid assets available to a company for use in its immediate or short-term operations, including cash and other assets that can be quickly converted into cash.

Government-Wide Financial Statements

Comprehensive financial reports that encompass all the financial activities of a government entity and its component units.