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Income

Business Studies J.C

TermDefinition
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.
 

 



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