EPF Unit 4.1

Front

Which of the following best describes "Disposable Income"?

Back

The total earnings received after all deductions have been made

Front

What does "Passive Income" refer to?

Back

Earnings derived from a rental property, limited partnership, or other enterprise in which a person is not actively involved.

Front

What is a "Fixed Cost"?

Back

A cost that does not change with an increase or decrease in the amount of goods or services produced

Front

Choose the accurate definition for "Variable Cost":

Back

A cost that varies with the level of production

Front

What does "Dividend" refer to?

Back

A sum of money paid regularly by a company to its shareholders out of its profits

Front

What is "Bankruptcy"?

Back

The state of being bankrupt, often involving a formal declaration.

Front

The term "Wage" refers to:

Back

Payment for labor or services to workers, especially remuneration on an hourly, daily, or weekly basis

Front

"Salary" can be defined as:

Back

A fixed regular payment, typically paid on a monthly or biweekly basis, but often expressed as an annual sum

Front

"Gross Income" is best described as:

Back

The total income before any deductions such as taxes or retirement contributions

Front

"Net Income" refers to:

Back

The sum of money received after all deductions, such as taxes and retirement contributions