Which of the following is not an issue when planning for retirement?

A) Estimating the age of retirement
B) Estimating the income of the children, if any
C) Estimating the age at death
D) Estimating expenses during retirement

B

Business

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Assume that the annual property taxes on a home are $1,380; that the home is being sold as of May 1; and that the taxes for the current year have been paid. If the buyer and seller agree to prorate the property taxes as of the sale date, the buyer's portion of the taxes would be most nearly:

A: $1,380; B: $1,150; C: $690; D: $230.

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Morgan wanted to obtain a 60-day option so that he could purchase a parcel of real property for $18,000. However, he wanted to pay only $1 for it. If this option were drawn and duly signed by the parties, it would be:

A: Invalid because of the 60-day length of time; B: Invalid because $1 is not adequate consideration; C: Valid if the $1 was actually delivered; D: Valid even if the $1 that was referred to was not actually received by the owner.

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