Major Sources of Retirement Income Include All of the Following

question 5

Multiple Choice

Major sources of retirement income include all of the following except:

• A) life insurance.
• B) annuities.
• C) individual savings plans.
• D) employer retirement and pension plans.
• E) Social Security.

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Definitions:

Accounting Profits

The net income for a company calculated by subtracting total expenses from total revenues, according to standard accounting practices.

Economic Profits

The gap between a company's overall income and its combined explicit and implicit expenses.

Sales

Transactions involving the exchange of goods or services for money.

Explicit Costs

Direct, out-of-pocket payments for resources employed in the production of goods or services, such as wages, rent, and materials.