Martha Is 80 and Has a Very High Net Worth

question 42

Multiple Choice

Martha is 80 and has a very high net worth.Her most important financial concern is probably her

• A)career.
• B)employee benefits.
• C)estate.
• D)insurance.
• E)savings.

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Definitions:

Defined Contribution Fund

A retirement plan in which the employer, employee, or both make contributions on a regular basis, but future benefits are based on the fund's investment performance.

Unpaid Contributions

Amounts due from members or shareholders for their share in the capital of the company which have not yet been paid.

Entity

Refers to an organization, institution, or being that possesses a separate existence for tax, legal, and accounting purposes.

Defined Benefit

A type of pension plan where an employer promises a specified pension payment upon retirement, which is calculated based on factors like salary history and duration of employment.