Income Definition With Reference

Income definition revenue received for goods or services or from other sources as rents or investments.

Income definition with reference. Access to the complete content on oxford reference requires a subscription or purchase. Additional information is included for specific variables to help general users better understand the concepts and. As you can see the net income definition is much different than the revenue definition of income. The amount of money or its equivalent received during a period of time in exchange for labor or services from the sale of goods or property or as profit from financial investments.

The generic term income is most commonly used to refer to net income instead of revenues. The concepts of national income refers to the value of goods and services produced by a country during a financial year. Taxable income is the amount of a person s gross income that the government deems subject to taxes. Capital income also known as capital gains can only be realized after an asset is sold according to investopedia.

Please subscribe or login to access full text content. This guide contains definitions and explanations of concepts classifications data quality and comparability to other sources. A report giving the profit or loss performance of a firm over a given reporting period cf. Be careful when you read examples or see problems that reference a company s income.

For years her only source of income was the small number of stocks her father left her. A dictionary of economics. Middle english arrival entrance from incomen to come in from old english incuman. See profit and loss account.

The act of coming in. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription. We can understand this concept by understanding the national income definition. This reference guide provides information that enables users to effectively use apply and interpret data from the 2011 national household survey nhs.

In contrast if an asset is sold at a lower price than it was bought for the result is a capital loss. In the united states tax exemptions exist on assets such as common stock holdings to encourage investment according to the irs.