Question

Income is measured on the basis of which concept?

Answer 1

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Economic income may be defined as the operating earnings plus the change in asset values during a time period. Economic income is measured in real terms and results from changes in the value of assets rather than from the matching of revenue and expenses...

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Answer 2

Income is measured on the basis of the concept of accounting, economic and capital income.  

Explanation:

• When people use the accounting principles (GAAP) it is known as accounting income measurement, it allots the income in order to find the net income of a enterprise at a particular period of time.
• Economic income is the operating income added to the change in the value of asset during an accounting period.
• In capital maintenance concept the company will only disclose the income after all the costs have been covered and there is a strong capital standing of the company.  

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