Types of Income

Benjamin, Jackson, and Abigail are discussing their sources of income. Benjamin mentions a source that he doesn't have to actively work for. Which of the following is likely Benjamin's source of income?

• Salary from his full-time job

• Income from his part-time job

• Rental income from a property he owns

• Income from selling handmade crafts

Priya has recently started working part-time at a local bookstore. The money she earns from this job is considered as:

• Experience

• Getting an education

• Earned income

• Investing Money

Rohan wrote a book and Avery composed a song. What type of income will they make from these?

• portfolio income

• passive income

• earned income

A benefit of this type of income is the potential to receive payment on a daily basis.

• Hourly

• Salary

• Tips

• Contractual

Which of the following is considered passive income?

• Salary from a full-time job

• Dividends from stock investments

• Income from freelance work

• Wages from a part-time job

What type of income is generated from owning shares in a company?

• Earned income

• Portfolio income

• Passive income

• Gift income

Which type of income is typically received from a pension plan?

• Earned income

• Passive income

• Portfolio income

• Retirement income

If someone receives money from a trust fund, what type of income is this?

• Earned income

• Passive income

• Portfolio income

• Trust income

What type of income is generated from renting out a property?

• Earned income

• Rental income

• Portfolio income

• Gift income

Which of the following is an example of earned income?

• Interest from savings

• Salary from a job

• Dividends from stocks

• Rental income