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Personal Savings Are a Third Source of Income in Retirement

question 25

Multiple Choice

Personal savings are a third source of income in retirement. Problems with saving for retirement include all of the following except:


Definitions:

March 31

The date which marks the end of the first quarter in the calendar year for many financial and academic institutions.

Accounting Equation

The fundamental principle of accounting that states assets equal liabilities plus owner's equity, providing the basis for double-entry bookkeeping.

Electric Bill

A monthly statement that quantifies and charges for electricity consumption.

Balance Sheet

A financial statement showing a company's assets, liabilities, and shareholders' equity at a specific point in time.

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