Which one of the following is true of Social Security benefits?
A. Benefits are taxed as ordinary income at both the federal and state level.
B. Workers who meet requirements receive retirement benefits according to age and earnings history.
C. Workers are not required to meet any eligibility rules to receive benefits.
D. The cost of the program is borne entirely by the employees who pay a payroll tax.
E. The program covers railroad and federal, state, and local government employees.
Ans: B. Workers who meet requirements receive retirement benefits according to age and earnings history.
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Affect a firm’s Leverage Ratio
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