Final answer:
Profit sharing is the income distributed to owner(s) for sole proprietorship or partnership.
Step-by-step explanation:
Income distributed to owner(s) for sole proprietorship or partnership is known as profit sharing.
Profit sharing is the distribution of a portion of a company's profits to its employees. It is usually based on a predetermined formula that takes into account factors such as salary, length of employment, and performance. For example, if a company's profit-sharing plan states that employees will receive 10% of the company's annual profits, and the company earns $1 million in profits, the employees will receive $100,000 in profit sharing.