Question

Which of the following is NOT a characteristic of income? a.         It refers to the flow...

Which of the following is NOT a characteristic of income?

a.         It refers to the flow of money earned by an individual during a period of time.

b.         It depends on some factors that an individual can control.

c.         It refers to the current stock of money that an individual can control.

d.         It depends on some factors outside of an individual’s control.

Homework Answers

Answer #1

Income is earned by an individual during a given period of time. Income depends on some factors that an individual can control, for example, quality of work, the effort of an individual etc. Income also depends on some outside factors that an individual can not control, for example, governments policy like minimum wage.

But the stock of money cannot be controlled by income by an individual, it can only be controlled by the central bank.

Therefore correct answer is option C.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1) Which of the following is not a characteristic of a qualified pension plan? A) It...
1) Which of the following is not a characteristic of a qualified pension plan? A) It can be limited to highly compensated salaried employees. B) It must be funded in advance of retirement. C) Benefits must vest after a specified period of service. D) It must cover at least 70% of employees. 2) We classify a lease as a finance lease if: A) the present value of lease payments is less than the asset's book value. B) the present value...
Of the following, which is not used in measuring a stock's return? Select one: a. The...
Of the following, which is not used in measuring a stock's return? Select one: a. The price of the stock at the time of purchase b. The dividends earned during the period owned c. The price of stock at the time of sale d. The average price of stock during the period owned
Which of the following is not a characteristic of the lean manufacturing philosophy? a push manufacturing...
Which of the following is not a characteristic of the lean manufacturing philosophy? a push manufacturing (make to stock) b product-oriented layout c reducing setup time as a critical improvement priority d short lead times
15.  Which of the following is NOT characteristic of a monopoly?                          a. the product is unique 
15.  Which of the following is NOT characteristic of a monopoly?                          a. the product is unique                                 c. there is little control over price          b. difficult to enter or leave the industry.      d. there is a single producer 16. A firm that is a Price Takers is a firm in         a. imperfect markets.                              c. monopoly markets.                                                          b. perfectly competitive markets.           d. Both b and c. 17. If there is no change in demand, the only way a monopolist can increase the number             of units sold is by...
Which of the following is not a characteristic of a normal variable? Select one: a. The...
Which of the following is not a characteristic of a normal variable? Select one: a. The probability of each individual value is virtually 0. b. It assumes a countable number of values. c. The mean and the median are always the same. d. It is a continuous random variable.
Financial documents: For each of the following, indicate which financial documents (income statement, balance sheet, cash...
Financial documents: For each of the following, indicate which financial documents (income statement, balance sheet, cash flow statement, budget) would show this information. Profit or loss for a given period of time Assets and their value on a given date Expenses for a period of time Money paid out during a period of time Beginning and ending cash balance for a period of time Projected income for a period of time Income as a percentage of sales Owner’s equity on...
Which of the following statements describes the corporate characteristic termed double taxation? A) The liabilities of...
Which of the following statements describes the corporate characteristic termed double taxation? A) The liabilities of the corporation cannot be extended to the personal assets of the shareholder. B) Shares of stock can be readily bought and sold by investors on the open market. C) Shareholders are not authorized to sign contracts or make business commitments on behalf of the corporation D) Corporations pay income tax on corporate earnings, and shareholders pay personal income tax on corporate dividends and gains...
21.  Which of the following is a characteristic of a liability?       a. It creates a present obligation...
21.  Which of the following is a characteristic of a liability?       a. It creates a present obligation for future payment of cash or services.       b. It cannot be settled with services.       c. It is an avoidable obligation.       d It occurs because of a future transaction or event. 22.  Assuming rising prices, which method will give the highest dollar value for cost of goods sold on the income statement?       a.  FIFO       b.  Average Cost       c.  LIFO       d. All of these give equal values for cost of...
Which of the following is a characteristic of the Grossman model? a.) Health is a capital...
Which of the following is a characteristic of the Grossman model? a.) Health is a capital good that lasts more than one period b.) Health is a cosumption good c.) Health is an investment good d.) all of the above
4.Which of the following is not a characteristic evaluated in ratio analysis? a. liquidity b. marketability...
4.Which of the following is not a characteristic evaluated in ratio analysis? a. liquidity b. marketability c. solvency d. profitability 10. Which of the following items should be classified as an unusual item on an income statement? a. loss due to a discontinued operation in Colorado b. gain on a sale of a long-term investment c. selling treasury stock for more than the company paid for it d. gain on the retirement of a bond payable