Which of the following statements about the full retirement age under the Social Security program is true?
A) The current retirement age for full benefits is age 62.
B) Beginning in the year 2025, the retirement age will be gradually increased to age 75.
C) Early retirement with reduced benefits is allowed as early as age 55.
D) Delayed retirement beyond the age for full benefits increases the amount of the monthly benefit.
Answer: D
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Indicate whether the statement is true or false
Which of the following statements is true concerning assets?
a. Assets represent future economic sacrifices. b. Assets are expired costs. c. Assets become expenses at the time they are paid in cash. d. Assets become expenses when their economic benefits expire.