Income is the revenue a business earns from selling its goods and services or the money an individual receives in compensation for his or her labor services or investments. Income is the consumption and saving opportunity gained by an entity within a specified timeframe which is generally expressed in monetary terms.
A gain or recurrent benefit usually measured in money that derives from capital or labor also.
Income def. In the field of. Income the financial gain earned or unearned accruing over a given period of time. Entrance influx fluctuations in the nutrient income of a body of water.
Income is used to fund. A coming in. The amount of such gain received in a period of time has an income of 30 000 a year.
Net income is defined as the gross income minus taxes and other deductions and is usually the basis to calculate how much income tax is owed. Income is the money that a person or company earns or receives as opposed to the money that they have to spend or pay out. Income is money or some equivalent value that an individual or business receives usually in exchange for providing a good or service or through investing capital.
Businesses report this figure on the income statement whereas individuals report theirs on the form 1040. Synonyms more example sentences learn more about. Income definition revenue received for goods or services or from other sources as rents or investments.
For years her only source of income was the small number of stocks her father left her. For households and individuals income is the sum of all the wages salaries profits interest payments rents and other forms of earnings received in a given period of time.