Quick Definition

Income refers to the money or other forms of payment that an individual or business receives, typically in exchange for providing a product, service, or labor.

Examples

• 1A monthly paycheck from a job.
• 2Earnings from investments such as dividends from stocks or interest from bonds.
• 3Rental income received from leasing out a property.
• 4Profits earned by a business from selling its products or services.

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