Regarding Older Adults, Which of the Following Statements Is FALSE

question 497

Multiple Choice

Regarding older adults, which of the following statements is FALSE?

• A)After the late 50s, personal development is complicated by physical aging.
• B)About 20 percent of those older than 65 are in nursing homes.
• C)Mentally, many elderly persons are at least as capable as the average young adult.
• D)One is more likely to stay mentally sharp in old age if he or she were satisfied with their accomplishments at midlife.

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Definitions:

Consolidated Financial Statements

Financial statements that present the assets, liabilities, and operating results of a parent company and its subsidiaries as one entity.

Beginning Inventory

The value of all inventory held by a company at the start of an accounting period.

Ignoring Income Taxes

Refers to the accounting practice or principle where income taxes are not considered in the calculation of financial metrics or performance evaluations.

Deferred Tax Asset

A tax reduction amount that can be used to offset future taxable income, arising from temporary differences between book and tax income.