Q: Is income the consumption and savings opportunity gained by an entity within a specified timeframe? ¶
A: Yes, and which is generally expressed in monetary terms.
Q: Is income increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity? ¶
A: Yes, and other than those relating to contributions from equity participants.
Q: Is income distributed in an uneven manner? ¶
Q: Is income the sum of all the wages? ¶
A: Yes, and salaries, profits, interests payments, rents, and other forms of earnings received.