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Test 2 Question 26 (of 50) > Saving equals: O current spending minus current income. O wealth minus assets O assets minus lia
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Answer #1

Saving equals current income minus spending on current needs.

For example: Salary of Mr X is $ 20,000 monthly and he spends $15,000 on his day to day requirements. Hence saving here equals to $ 5,000.

That is, Savings= Income-Expenditure

Savings= $20,000-$15,000

Savings= $5000.

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