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Types of Income (Royalties (A sum paid to authors, musicians etc., as a…
Types of Income
Royalties
A sum paid to authors, musicians etc., as a percentage of the proceeds from their work.
Salaries
A fixed amount of money paid on a regular basis (usually monthly or fortnightly) to a permanent employee of an organisation.
Wages
Money received by workers usually on a weekly basis for services they provide to an employer. Paid on an hourly basis.
Investment
Money received on a regular basis from work, property, business, investment or welfare payments. .
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