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Which of the following would NOT be considered as an income?A.interest from savings accountB.the wage from workC.a child benefitD.interest on a loan

Question

Which of the following would NOT be considered as an income?

A. interest from savings account
B. the wage from work
C. a child benefit
D. interest on a loan

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Solution

Step 1: Break Down the Problem

We need to identify which of the given options does not constitute income. Income typically includes money earned or received. The options are:

  1. Interest from savings account
  2. Wage from work
  3. Child benefit
  4. Interest on a loan

Step 2: Relevant Concepts

  • Income: Any earnings received, which can be in the form of wages, interest, grants, etc.
  • Non-Income: Money that is not received as compensation or earnings.

Step 3: Analysis and Detail

  1. Interest from Savings Account (A): This is considered income as it is money earned on deposits.
  2. Wage from Work (B): This is direct compensation for labor, hence it is income.
  3. Child Benefit (C): This is a government payment to assist families; it is treated as income for those receiving it.
  4. Interest on a Loan (D): This is not income for the borrower; it is money that must be paid back with interest.

Step 4: Verify and Summarize

After analyzing the options, it is clear that "Interest on a loan" does not represent income as it is a liability to the borrower and not a financial gain.

Final Answer

D. Interest on a loan

This problem has been solved

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