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Section B. Income and Net Worth Development Forms and Acceptable Statements OverviewIntroduction This section contains the following topics:Topic Name See Page 5 Original Applications for Pension
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Income is the money a person or business earns, while net worth is the total assets minus total liabilities.
Individuals, businesses, and organizations meeting specific criteria are required to file income and net worth.
Income and net worth forms can be filled out manually or electronically depending on the requirements of the jurisdiction.
The purpose is to provide an accurate representation of a person or organization's financial situation.
Information such as income sources, expenses, assets, and liabilities must be reported on income and net worth forms.
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