Which of the Following Is the Largest Source of Income

question 16

Multiple Choice

Which of the following is the largest source of income for people over age 65 in the United States today?

• A) earnings from employment
• B) Social Security
• C) private pensions
• D) asset income
• E) individual savings

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Definitions:

Specific Assets

Assets identified and designated for a particular purpose or project, often distinguished from general or unspecified assets.

Bond Indenture

A legal contract between a bond issuer and bondholders, detailing the terms of the bond such as the interest rate, maturity date, and obligations of both parties.

Investment Company

A corporation or trust engaged in the business of investing the pooled capital of investors in financial securities.

Bond Certificate

A legal document that indicates the name of the issuer, the face value of the bonds, the contractual interest rate, and maturity date of the bonds.