Which of the Following Statements Regarding Retirement Is True

question 59

Multiple Choice

Which of the following statements regarding retirement is true?

• A) More people today over the age of 65 are in the workforce than there were in 1900.
• B) An average worker today can look forward to approximately 15 years of retirement.
• C) Most U.S. adults today are financially prepared for retirement.
• D) Most adults are not psychologically prepared for retirement.

---

Definitions:

Effective Tax Rate

The average rate at which an individual or corporation is taxed, calculated by dividing the total tax paid by taxable income.

Income Tax Expense

The amount of money a company or individual owes in taxes based on their taxable income for a given period.

Pre-tax Book Income

The income a company reports to investors before the application of income tax and other deductions as per accounting standards.

Income Tax Expense

The total amount charged against earnings based on corporate and governmental tax regulations.