ECONOMICS
MONEY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
earned income
|
|
|
personal assets
|
|
|
investment income
|
|
|
taxable income
|
Detailed explanation-1: -Earned income: The taxpayer must have earned income from wages, salaries, or self-employment.
Detailed explanation-2: -For the year you are filing, earned income includes all income from employment, but only if it is includable in gross income. Examples of earned income are: wages; salaries; tips; and other taxable employee compensation. Earned income also includes net earnings from self-employment.
Detailed explanation-3: -money that a person or company receives for work they have done, including wages, tips, commissions, and bonuses, but not income from investments: They live on their savings and have no earned income.
Detailed explanation-4: -Active income. If you have a job and receive a paycheck, you make your money through active or earned income . Portfolio income. Portfolio income comes from investments such as dividends, interest, royalties and capital gains. Passive income. 03-Feb-2023