What is the income

The definition of income implies a wide range of applications. In a General sense, income is those funds or tangible assets that were obtained as a result of activities for a certain time period.

Economic benefit should be considered the amount of money received in the form of wages, interest, dividends, payments for the use of factory buildings, equipment, land, other natural resources, revenue and taxes from business activities. From the point of view of economists, the income is means, after payment of taxes which the subject of activity expects to spend for personal consumption and for personal savings. Also under income understand the funds that the subject can spend and it will not affect its economic condition. Receive the income of natural and legal persons and the state. Continue reading →