Question: Elisha is a photographer and charges a set fee to photograph weddings. This is an example of _____ income.

Answer: b.

earned

Question: Byron is a wealthy tycoon who makes his money buying and selling stocks. This is an example of _____ income.

Answer: a.

capital gains

Question:

Answer: b.

Hourly pay. Hourly employees make more per week than salaried employees.

Question:

Answer: d.

$0.90

Question: Scott earns $16.85 per hour at his job. He works 7 hours per day, 4 days per week. What is Scott’s gross monthly income for 4 weeks?

Answer: d.

$1,887.20

Question: Loretta’s income last year was $81,300. She made $56,800 at her salaried job and had additional passive income. If Loretta earned the same amount of passive income each month for the entire year, approximately how much per month was it?

Answer: a.

$2,040

Question: Miguel paid a total of $12,000 for stock that was $8 per share. If he sold all his shares for $15,000, how much profit on each share did he make?

Answer: a.

$2

Question: Mikah invented and patented a new product which sells in local department stores. This is an example of _____ income.

Answer: d.

passive

Question:

Answer: c.

Salaried pay. Salaried employees make more per week than hourly employees

Question: Padraig is a financial advisor. He earned a salary of $80,000 last year and sold stocks for $5,000. Which of the following types of income did Padraig have?

I earned income

II passive income

III capital gains income

Answer: b.

I and III