BUISENESS MANAGEMENT
FINANCIAL MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Interest earned on a savings account.
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Money earned from working at the mall.
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Money received from Social Security
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None of the above
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Detailed explanation-1: -Examples of earned income are: wages; salaries; tips; and other taxable employee compensation. Earned income also includes net earnings from self-employment.
Detailed explanation-2: -Earned income Earned income includes wages, salaries, tips, and self-employment earnings you get from working.
Detailed explanation-3: -Earned income includes all the taxable income and wages you get from working for someone else, yourself or from a business or farm you own.
Detailed explanation-4: -Unearned Income. Unearned income includes investment-type income such as taxable interest, ordinary dividends, and capital gain distributions. It also includes unemployment compensation, taxable social security benefits, pensions, annuities, cancellation of debt, and distributions of unearned income from a trust.