It is the money received by a person during a given period. Income from employees is called salaries. Income from workers, like construction workers (in the Philippines), is called wages. Income received from deposits in bank is called interest. Income gained from business transactions is called revenue or simply income.
It is an accounting term which means earnings arising from transactions of companies or businesses. To elaborate further, it is a benefit for a certain period of time from a successful company operation during the year. It is presented in the income statement as a part of company’s yearly financial statement.
Receiving money from a person for a work during the period of time. without income we cant live in this world. generally, represents the money to satisfy the human life.
sum of all monetary and in-kind benefits received by a person in a given period. serves to keep body and soul together and educate the children. subject to sporadic but unrelenting assaults by women and the tax man.
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