Types of Income

Total amount of earnings made over a month before any deductions

• Net Monthly Income

• Gross Monthly Income

• Income Tax

• Social Security

William works part-time at a local cafe and earns a weekly wage. He also receives tips from customers and a monthly salary from his other job. What type of income does this represent?

• unearned income

• earned income

• disposable income

Daniel received some money from his bank account as interest, Ava got some dividends from her investments, and Arjun won a lottery. What type of income is this?

• disposable income

• unearned income

• earned income

• workers compensation

Emma, Evelyn, and Aria are discussing their income sources. Emma mentions an income type she earns regularly with little to no effort. Which income is she referring to?

• Earned Income

• Capital Gains Income

• Passive Income

• Portfolio Income

Sophia, Mia, and Priya were discussing their incomes. Sophia mentioned she made some money by putting her money in a savings account. What type of income is Sophia referring to?

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Sophia sold an antique vase for more than its worth. What type of income did she earn?

• Earned Income

• Portfolio Income

• Passive Income

• Irregular Income

Benjamin, Grace, and Nora have different types of income. Benjamin has earned income from his job, Grace has passive income from her rental properties, and Nora has portfolio income from her investments. Who has to pay taxes?

• Benjamin

• Grace

• Nora and Benjamin

• Benjamin, Grace and Nora

What is the income called that is received from renting out property?

• Earned Income

• Passive Income

• Portfolio Income

• Irregular Income

Which type of income is typically received from a regular job or employment?

• Earned Income

• Passive Income

• Portfolio Income

• Unearned Income

What type of income is generated from investments such as stocks and bonds?

• Earned Income

• Passive Income

• Portfolio Income

• Irregular Income