ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Emergency fund
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fixed expense
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P.Y.F.
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Income
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Detailed explanation-1: -Any monetary benefit offered by the employer to its employees for meeting expenditures, over and above the basic salary are known as Salary Allowances. Allowances are the financial benefit given to the employee over and above the monthly salary.
Detailed explanation-2: -allowance noun (AMOUNT GIVEN) money that you are given regularly, especially to pay for a particular thing: The perks of the job include a company pension and a generous travel allowance.
Detailed explanation-3: -An allowance is a financial benefit given to the employee by the employer over and above the regular salary. These benefits are provided to cover expenses that may be incurred to facilitate the discharge of service for example Conveyance Allowance is paid to foot expenses incurred for commuting to the workplace.
Detailed explanation-4: -Taxable Allowances. Partly Taxable Allowances. Non-taxable Allowances. 01-Feb-2020