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Which of the following best describes "Disposable Income"? A) The total earnings received after all deductions have been made, B) A sum of money paid regularly by a company to its shareholders out of its profits, C) The total earnings before any deductions are made, D) Income from properties or investments

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The total earnings received after all deductions have been made

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What does "Passive Income" refer to?

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

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What is a "Fixed Cost"?

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

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Choose the accurate definition for "Variable Cost":

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A cost that varies with the level of production.

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The term "Wage" refers to:

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

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"Salary" can be defined as: A fixed regular payment, typically paid on a monthly or biweekly basis, but often expressed as an annual sum

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

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"Gross Income" is best described as:

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

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"Net Income" refers to:

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

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A "Dependent" refers to:

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A person who relies on another, especially a family member, for financial support.

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Which statement best describes an insurance "Premium"?

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The amount paid periodically to the insurer by the insured for covering their policy.