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Income
Business Studies J.C
Term | Definition |
---|---|
Income | Any money you receive. |
Regular Income | Received at fixed intervals (daily,weekly,monthly) e.g Wages or job-seekers allowance. |
Irregular Income | Received now and again or once in a lifetime. |
Benefit in Kind | Non money income. Examples include company car, subsidised meals, company phone, free flights (for airline staff). |
Overtime | Hours worked beyond the regular forty-hour workweek. |
Child Benefit | Monthly payment made to parents/carers of any child under 16 years of age or under 19 years of age in full time education. |
Pension | A sum paid regularly to a person, usually after retirement. |
A Bonus | An extra payment made to an employee at the end of a specific time frame ( e.g Christmas) -- above an employee's regular wage or salary. |
Pocket Money | an amount of money which parents regularly give to their child to spend on whatever they want. |
Grant | A payment made to students while they are studying at college. |
Job-seekers Benefit | A weekly payment made to unemployed people. |