Which of the following is not a component of the income approach?
A)labour income
B)capital and mixed income
C)transfer payments
D)indirect business taxes

Question

Quizplus · Accepted Answer

Transfer payments are not a component of the income approach, as they do not represent earnings from production. Transfer payments are payments made by the government or other organizations to individuals or households for reasons other than work or production, such as social security benefits or welfare payments. The other choices, labour income, capital and mixed income, and indirect business taxes, are all components of the income approach.

Which of the Following Is Not a Component of the Income