Economic income includes:
A)recurring components only.
B)nonrecurring components only.
C)both recurring and nonrecurring components.
D)neither recurring nor nonrecurring components.

Question

Quizplus · Accepted Answer

Economic income includes both recurring and nonrecurring components. Recurring components refer to regular income received from employment or investments, while nonrecurring components include one-time gains or losses, such as selling an asset or receiving a bonus. Economic income considers both types of income to measure an individual's or company's overall financial well-being.

Economic Income Includes