If we are hired by an organization, we would be least hurt by inflation if "the government increases social security retirement payments in anticipation of expected inflation".
<h3>What is
social security retirement payments?</h3>
Benefits from Social Security offer qualified retired adults and those with disabilities, as well as their spouses, children, and survivors, a portion of a replacement income.
To be eligible for benefits, a person must contribute to the Social Security system during their working years and accumulate 40 credits.
The role of social security in protecting against inflation are-
- Because Social Security benefits are adjusted to the Consumer Price Index for Urban Wage Earners and Clerical Workers, it is often assumed that recipients are protected from inflation (CPI-W)
- A cost-of-living adjustment (COLA) is a yearly increase to your benefit that Social Security calculates based on inflation, if any, in addition to any calculations based on your earnings.
- Social Security replaces a percentage of your pre-retirement income based on their lifetime earnings.
To know more about the Consumer Price Index, here
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Answer:
b) Managerial hubris
Explanation:
Based on the scenario being described within the question it can be said that the term that is often used to describe this would be Managerial hubris. This term refers to the unrealistic belief by managers that believe that they can manage a target firm's assets better than that firm's current management. Which is what is happening in this scenario since the managers at Winter Wonder believe that they can do a better job at managing the Sleds by Bob business better that their current managers.
Answer:
Debit Insurance Expense, $2,400; credit Prepaid Insurance, $2,400.
Explanation:
The journal entry is given below
Insurance expense A/c Dr $2,400
To Prepaid Insurance $2,400
(Being insurance expense is recorded)
The computation is shown below:
= Insurance premium ÷ number of months × required months
= $4,800 ÷ 4 months × 2 months
= $2,400 months
The 2 months is taken from November 1 to December 31
