Which One of These Assists in Shifting an Individual's Consumption

question 5

Multiple Choice

Which one of these assists in shifting an individual's consumption forward in time?

• A)a bank line of credit
• B)a bank savings account
• C)a life insurance policy
• D)a retirement savings plan

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Definitions:

Check Stub

A portion of a check that is retained as a record, detailing the amount, date, and other relevant information about the transaction.

Balance Brought Forward

The opening balance of an account that is carried over from the end of a previous period.

Check Amount

Check Amount refers to the specific monetary value written and payable on a check, representing the total to be transferred from the account of the drawer to the payee.

Balance Carried Forward

The amount of money carried from one period to the next in a financial statement or accounting ledger.