Choose the Word or Phrase in [ ] Which Will

question 20

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-[Social Security | 401k] is the single largest source of income for the average U.S.retiree.

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Definitions:

Annual Fixed Costs

The total of all business expenses that are constant and do not change with the level of goods or services produced within a given time period, typically a year.

Cash Break-Even

The point at which a business generates just enough cash flow to cover its operating expenses, not accounting for any profitability.

Selling Price

The amount of money a buyer pays to purchase a product or service.

Variable Costs

Expenditures that fluctuate relative to the quantity of output or services provided by a business.