The Most Common Form of "Forced Savings" in the U

question 28

Multiple Choice

The most common form of "forced savings" in the U.S.is:

• A)Social Security.
• B)FICA.
• C)unemployment Insurance.
• D)Medicare.

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Definitions:

Patent

A legal document granted by the government giving an inventor exclusive rights to make, use, and sell an invention for a certain period of years.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset from the time of its acquisition until a specified reporting date.

Original Cost

The purchase price of an asset or service, excluding any subsequent costs for maintenance or improvement.

Amortization

The gradual reduction of a debt over a period of time by making regular payments of interest and principal or the systematic allocation of intangible asset costs over its useful life.