Longer-Term Care Is Best Defined as

question 8

Multiple Choice

Longer-term care is best defined as

• A)the provision of any services required by persons who are dependent on others to meet their basic needs.
• B)services that are long term in duration.
• C)care allocated in long-term care institutions.
• D)care that all individuals require as they age.

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Definitions:

Temporary

In accounting, temporary refers to accounts that are closed at the end of an accounting period, such as revenues, expenses, and dividends.

Forthcoming Year

The approaching or upcoming calendar year.

Long-term Debt

Debt obligations of a business that are due more than one year in the future, often used for large purchases or investments.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made at the end of the previous period.