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
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:
- Interest from savings account
- Wage from work
- Child benefit
- 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
- Interest from Savings Account (A): This is considered income as it is money earned on deposits.
- Wage from Work (B): This is direct compensation for labor, hence it is income.
- Child Benefit (C): This is a government payment to assist families; it is treated as income for those receiving it.
- 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
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