Alex Bates Goes on the Price Is Right and Earns

question 78

Multiple Choice

Alex Bates goes on The Price Is Right and earns $875,000 in winnings.What type of income is this?

• A)Earned income
• B)Investment income
• C)Passive income
• D)Other income
• E)Deferred income

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Definitions:

Liabilities

Financial obligations or debts owed by a company or individual to others, which must be settled over time through the transfer of economic benefits.

Non-Interest-Bearing Reserve Deposits

Bank reserves held in a central bank that do not earn any interest for the commercial bank.

Legal Reserves

Funds that banks are legally required to hold in reserve against deposits made by their customers, either as cash in the bank or as deposits in the central bank.

Federal Reserve

The main bank system in the United States, tasked with managing the country's monetary policy, overseeing banking regulations, ensuring the financial system remains stable, and delivering financial services.