An accounting system that measures the lifetime tax burden and benefits of each generation is called Generational accounting.
Generational accounting is that method of measuring the fiscal burdens in which the current and future generations are faced.
Generational accounting also considers how much a single adult generation, when taken on a per person basis, is likely to pay in future taxes in the net of transfer payments, over the rest of their lives.
Generational accounting is also considered as a method of long-term fiscal analysis which has been developed over the past decade by Laurence Kotlikoff , Jagadeesh Gokhale, Alan Auerbach and their associates in this country and also around the world.
Generational accounting is used to assess the sustainability of fiscal policy and the fiscal burdens which faces the past, current, and future generations.
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