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Questions and Answers
What are the sources of income discussed in the text?
What are the sources of income discussed in the text?
- Capital gains, inheritance, lottery winnings
- Pension, rental income, royalties
- Salary, bonuses, commissions
- Dividends, interest, employment earnings (correct)
Which of the following is considered a liability according to the text?
Which of the following is considered a liability according to the text?
- Investments
- Credit card debt (correct)
- Cash
- Real estate
What is the purpose of 'Generating Positive Cash Accumulating Wealth' in the GAP Framework?
What is the purpose of 'Generating Positive Cash Accumulating Wealth' in the GAP Framework?
- Providing entertainment
- Achieving personal fitness goals
- Developing artificial intelligence
- Creating income streams to exceed financial expenses (correct)
Which type of assets are included in an individual's wealth portfolio according to the text?
Which type of assets are included in an individual's wealth portfolio according to the text?
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What is the main focus of 'Protecting Wealth' in the GAP Framework?
What is the main focus of 'Protecting Wealth' in the GAP Framework?
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Which of the following is NOT typically considered an expense according to the text?
Which of the following is NOT typically considered an expense according to the text?
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In the GAP Framework, what does 'Flow (G)' focus on achieving?
In the GAP Framework, what does 'Flow (G)' focus on achieving?
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'Assets' in personal finance refer to resources that provide future benefit through:
'Assets' in personal finance refer to resources that provide future benefit through:
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