The Elderly Support Ratio Recorded by the U

question 15

Multiple Choice

The elderly support ratio recorded by the U.S.Bureau of the Census in 1985 is expected to rise post 2005 because:

• A)a large number of people born between 1946 and 1961 would still be in the labor force.
• B)the cost of medical care would increase over time.
• C)the availability of medical care would decline in future.
• D)a large working-age population would retire.
• E)population of every economy would continue to rise.

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Definitions:

Merchandise Inventory

The total value of a company's goods that are ready for sale to customers at any given time, including products bought for resale.

Accounts Payable

Liabilities representing amounts owed by an entity to suppliers or creditors for goods or services received but not yet paid for.

Multiple-Step Income Statements

A detailed financial statement that separates operating revenues and expenses from non-operating ones, showcasing multiple layers of profitability.

FASB

The Financial Accounting Standards Board, an organization responsible for establishing and improving financial accounting standards in the U.S.