According to Census Figures and the Congressional Budget Office, the Number

question 287

Multiple Choice

According to census figures and the Congressional Budget Office, the number of people aged 65 and older is projected to ________ and the number of uninsured people is projected to ________ by the year 2020.

• A) increase; increase
• B) decrease; increase
• C) increase; decrease
• D) decrease; decrease

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Definitions:

Adjusting Entries

Journal entries made in accounting to update the records for expenses and revenues that have accrued but are not yet recorded.

Daily Wages

The amount of money that a worker earns for one day of labor.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting the consumption of the asset.

Office Supplies

Items and equipment regularly used in offices by businesses and other organizations, including paper, pens, and stationery.