Question

example of transfer income 1) scholarship 2) pension 3) revenue received by selling goods 4( profit earned from business​

Answer 1

Answer: (1) a and b ; scholarship and pension. :)

Explanation:

Answer 2

The correct option are :

1. Scholarship

2. Pension.

Explanation:

What do we mean by transfer income?

Transfer income is referring to any income which a recipient receives without providing any goods, services or assets in return to the payer.

The payment is very much Unilateral.

Though, national income is not included while the estimation of National income is done.

• The income implies that the receiver is not involved in any sacrifice to get this income.
• A person can get this type of income as a financial help, a gift, in cash, a donation for a trust or NGO.
• Also, scholarships and pensions are very good examples of transfer income.

There are various types of Transfer.

1. Current transfer.
2. Capital transfer.

1. Current transfer:

The amount payment is made out of the payer's Current income and includes in the current income of the recipient.

2. Capital transfer:

When the payment is made out of the wealth of the payer and included in the wealth of the recipient.