The Quality and Timing of Your Retirement Depend Mainly on the Quality

question 112

True/False

The quality and timing of your retirement depend mainly on the quality of your employer's retirement plan.

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Definitions:

FICA Taxes

Taxes imposed on both employees and employers to fund Social Security and Medicare, based on a percentage of payroll.

Federal Income Taxes

The taxes levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.

Operating Cycle

The average time period between purchasing or acquiring inventory and receiving cash from sales of the inventory.

Existing Current Assets

Current assets that have been on a company's balance sheet for an extended period and include cash, accounts receivable, inventory, and other short-term assets.