3
QuizMultiple Choice

Sources of Income

Question 3 • SHS Alt Personal Finance - 2021

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

Answer
A
capital gains
B
earned
C
hourly
D
passive

Explanation

Elisha receives the fee by providing a photography service, so the income comes from work she performs. Income earned through working or providing services is earned income. A set fee does not make it hourly income, since the payment is not described as being based on hours worked.

AI-written and checked against the verified answer.

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