ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -What is Supplementary Information? Supplementary information is any information presented in addition to the financial statements that is not necessary to fairly present the financial statements. This information may be presented with the financials or in a separate document.

Detailed explanation-2: -Supplemental wages are payments paid to employees in addition to their normal pay. Overtime, bonuses, commissions, and other benefits are among them.

Detailed explanation-3: -Income is the money received by a person (individuals or business) periodically on daily, weekly, monthly, or yearly basis. Income includes monetary as well as non-monetary values of allowances and perquisites. All income is taxable under income tax unless expressly exempted.

Detailed explanation-4: -Wages. This is income you earn from a job, where you are paid an hourly rate to complete set tasks. Salary. Similar to wages, this is money you earn from a job. Commission. Interest. Selling something you create or own. Investments. Gifts. Allowance/Pocket Money. More items