Which of the Following Is Not a Component of the Income

question 12

Multiple Choice

Which of the following is not a component of the income approach?

• A)labour income
• B)capital and mixed income
• C)transfer payments
• D)indirect business taxes

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Definitions:

Poor

Refers to individuals or communities lacking financial resources and essentials for a minimum standard of living.

Richer

Having a greater amount of wealth, resources, or assets compared to a previous state or compared to other individuals or entities.

Relative and Absolute Terms

Concepts used to compare differences in terms of relationships or ratios (relative) and fixed values or units (absolute).

Social Security

A government system that provides monetary assistance to people with an inadequate or no income, particularly the elderly, disabled, and families with dependent children.