Question

5. Categorise the following as transfer income and factor in
a) Salary received by a teacher of CIS, Dasuya.
b) Financial help of poor people.
c) Insurance claim received by a factory owner,
d) Pocket money received by Sam.
e) Scholarship received by Amit

Answer 1

Transfer income and factor income .

Explanation:

we should know the basic deference between transfer income and factor income.

So the Transfer income is when we receive an income without giving any service or goods. And factor income is something that we receive in return of any service or good.

Answer:

A) = Factor income

B) = Transfer income

C) = Factor income

D) = Transfer Income

E) = Transfer Income.