Which of the following sources do most retirees (65 and older) receive most of their income?
A. Social Security
B. Private pensions
C. Earnings from personal assets
D. Disability insurance
E. Private investments
Answer: A. Social Security
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Maywood, Inc. has a current ratio of 6.00. This indicates that the company has $6 in ________
A) current liabilities for every $1 of current assets B) total assets for every $1 of current liabilities C) current assets for every $1 of current liabilities D) total assets for every $1 of current assets
Alpine Productions uses a standard cost system for recording transactions
Alpine reported the following data for the year ended December 31: Sales revenues: $800,000 Cost of goods sold (standard costing): $382,000 Selling & admin expenses: $105,000 Variances: Sales revenue variance $4,100 F Direct materials cost variance 30 U Direct materials efficiency variance 300 F Direct labor cost variance 65 U Direct labor efficiency variance 10 F Variable overhead cost variance 300 U Variable overhead efficiency variance 80 F Fixed overhead cost variance 430 U Fixed overhead volume variance 100 F What is the standard net operating income? A) $312,665 B) $316,765 C) $421,765 D) $313,000