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Definitons of Income

Income


 

English Translation

In basic terms, what this rather obscure definition involves is two things:Accountants. Don'tcha just love 'em?

  • Firstly, the idea that "income" involves some form of monetary benefit (such as earnings from a job, dividend payments from the ownership of shares and the like) measured over a particular period (such as a year).
     
  • Secondly, income may also flow from a decrease in your liabilities (what you owe, in other words) - the less you owe, the relatively greater will be your income.