Which Age Segment of the U

question 275

Multiple Choice

Which age segment of the U.S.population is expected to grow to 72 million people or almost 20 percent of the population by 2030?

• A)children under the age of 18
• B)people aged 65 and over
• C)children of baby boomers
• D)children of Generation X
• E)children of Generation Y

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Definitions:

Prepaid Rent Expense

Prepaid rent expense is an advance payment for rent that is recorded as an asset on the balance sheet until it is used or consumed in future periods.

Liability

An obligation that a corporation or individual has to another entity, typically financial in nature, such as loans or accounts payable.

Asset

Resources owned by an individual or business that have economic value and can be used to meet debts, commitments, or legacies.

Prepaid Rent Expense

An accounting term for rent payments made in advance of the rental period, recorded as an asset on the balance sheet until the period of use.