Which term refers to money an individual earns or receives from work or other resources?

Which term refers to money an individual earns or receives from work or other resources?

• A. Income
• B. Checking Account
• C. Income Tax
• D. Primary Market

Answer: (A)

Income is money you earn or receive from work or other resources, such as wages, salaries, tips, interest, dividends, or rents. It describes a flow of earnings over time, not a place to store money or a tax or a market term. For example, your paycheck and the interest you earn on savings are both income. The other terms don’t fit: a checking account is simply where money is kept, income tax is the tax paid on earnings, and the primary market is about new securities being issued, not about personal earnings.

Income is money you earn or receive from work or other resources, such as wages, salaries, tips, interest, dividends, or rents. It describes a flow of earnings over time, not a place to store money or a tax or a market term. For example, your paycheck and the interest you earn on savings are both income. The other terms don’t fit: a checking account is simply where money is kept, income tax is the tax paid on earnings, and the primary market is about new securities being issued, not about personal earnings.