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When looking at an individual's income statement, which of the following would be included?

1) jewelry
2) child support
3) stocks and bonds
4) alimony

1 Answer

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Final answer:

An individual's income statement includes financial entries such as child support and alimony, which are forms of income. Jewelry is a personal asset and stocks and bonds are investments, which would not be listed on an income statement unless they provide realized income like dividends or interest.

Step-by-step explanation:

When looking at an individual's income statement, the items typically included are those which represent forms of income that the individual receives. In the context of the question, this would include child support and alimony, as they are payments received that contribute to an individual's income. On the other hand, jewelry is considered a personal asset and stocks and bonds are considered investments; while they may contribute to an individual's net worth, they are not income until they generate dividends, interest, or capital gains, and thus are not typically listed on an income statement until realized. Additionally, it is important to consider the impact of taxes, such as corporate income tax, individual income tax, and payroll tax, on the individual's net income.

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