Money Received by an Individual for Personal Effort Is Classified

question 13

Multiple Choice

Money received by an individual for personal effort is classified as ________ income.

• A)passive
• B)earned
• C)portfolio
• D)excluded
• E)investment

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Definitions:

Protection

Measures or actions taken to guard against harm, damage, loss, or any unwanted outcome, often referring to safeguarding people, property, or interests.

Promissory Note

A written promise to pay a specified sum of money to another party under agreed terms at a specified time.

Bill of Exchange

A written, unconditional order by one party, directing another party to pay a specific sum of money to a third party on demand or at a set time.

Vertical Merger

The combination of two or more companies that operate at different levels within the same industry's supply chain.