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Mikah invented and patented a new product which sells in local department stores. This is an example of ___ income. a. capital gains b. earned c. hourly d. passive Please select the best answer from the choices provided

Ask by Guzman Marsh. in the United States
Mar 11,2025

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The answer is **b. earned**.

Solución

The best answer from the choices provided is: **b. earned** This is because Mikah is actively involved in the creation and sale of the product, which qualifies as earned income.

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Bonus Knowledge

This scenario describes income generated from a product that Mikah invented and patented. Since this income is derived from her efforts and the sale of her invention, it is classified as earned income. In contrast, capital gains refer to the profits from selling assets, hourly income pertains to wages earned based on hours worked, and passive income is earned from investments or activities in which one does not actively participate, like rental income. Therefore, the best answer is b. earned.

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