According to the Text, About What Percent of Retired U

question 69

Multiple Choice

According to the text, about what percent of retired U. S. adults over age 65 rely to a significant degree on Social Security as a source of income?

• A) about 25%
• B) about 45%
• C) about 66%
• D) about 90%

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Definitions:

Par Value

The face value of a bond or the stated value of a stock; does not necessarily reflect market value.

Capital Lease

A lease agreement that is recorded as an asset on the lessee's balance sheet because it effectively transfers the risks and benefits of ownership from the lessor to the lessee.

Lease As Purchase

An agreement where the lessee has the option or obligation to purchase the leased asset at the end of the lease term.

Mortgage Payable

A long-term liability reflecting the amount of money borrowed to purchase property, to be repaid over a set period with interest.