All categories

3 years ago

Which of the following statements concerning the reduction of Social Security benefits is (are) correct?

Business

1 answer:

tatiyna3 years ago

5 0

Answer:

b) 2 only

Explanation:

The Social Security Act set up the Old Age and Survivors Insurance Trust Fund (OASI), from which retired individuals receive their payments. These benefits are subject to taxes, and can be withheld if a debt is incurred or an over-payment occurs.

You might be interested in

If a firm is evaluating two possible projects, both of which require the use of the same production facilities, and taking one p

Mnenie [13.5K]

Complete/Correct Question:

If a firm is evaluating two possible projects, both of which require the use of the same production facilities, and taking one project means that we cannot take the other, these projects would be considered ___.

A. Mutually exclusive

B. Interdependent

C. Independent

D. Co-dependent

Answer:

A, Mutually exclusive

Explanation:

When two events are impossible to come together or coincide, the events are called a mutually exclusive event.

In simple terms, a mutually exclusive event is one that stands alone. No other event can go alongside it.

Just like in the question, since the two projects require the use of the same production facilities, only one project can be taken up at once. This makes each of the products mutually exclusive and means that one project has to go for the other project to happen.

Cheers.

8 0

3 years ago

Setting a specific income level and then defining a person (or household) as poor if his or her (or its) income falls below that

Darya [45]

Answer: Option (c) is correct.

Explanation:

Correct: Absolute income test

Absolute income test is a measure of poverty in a country. In absolute income test, there is a setting of income level that is the benchmark for the poverty. This means that if a person's income falls above this income level then he is not considered as poor whereas if a person's income falls below this income level then he regarded as poor.

5 0

3 years ago

A baker is interested in buying 5000 bushels of wheat on September 2020. He has a target price of $3.15/bushel and wants to hedg

Alborosie

Answer:

Long 5 November fates for wheat today, counterbalance position on September 2020, purchase wheat in the spot showcase in September 2020.

Explanation:

The risk included is upward development in the value, the helpful situation in prospects would be taking long position. Since, the fates are accessible for November month, take long situation on November and balance the situation in September by taking short situation for November month and purchase the wheat in the spot market.

3 0

3 years ago

At the end of 2016, Karras Inc. had a debit balance of $141,120 in its accounts receivable. Additionally, Karras had a credit ba

horrorfan [7]

Answer:

The answer is given below

Explanation:

Allowance for doubtful accounts-opening $4,350

Allowance for doubtful accounts-closing ($9,420)

Bad Debt Expense $83,750

Accounts Receivable Written off $78,680

Accounts receivable-closing $141,120

Sales made made during the year ($1,530,000)

Account receivables-collected $1,445,700

Accounts Receivable-Written off $78,680

Accounts Receivable opening $135,500

4 0

3 years ago

The order of the steps to prepare the worksheet are: A. complete the adjustments, prepare the adjusted trial balance, prepare th

DIA [1.3K]

Answer: D. prepare the trial balance, complete adjustments, prepare the adjusted trial balance, extend the respective totals to the Income Statement and Balance Sheet columns.

Explanation:

You need to first prepare the trial balance and then at the year end there are certain adjustments that needs to be completed and then you prepare the adjusted trial balance after completing the adjustments and then the information that are relevant to income statement and balance sheet should go to their respective columns.

3 0

3 years ago