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Forms of Income RSM Flashcards | StudBud
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Forms of Income RSM
Forms of Income RSM
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Test your knowledge on the different types of income.
Flashcards
7 cards
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Questions
7
Answers
1
Which of the following requires in-depth subject knowledge to increase chances of success?
Buying a house or real estate
Buying stocks
Acting
Creating a product
2
Pick all which continues to pay, even after we ACTIVELY stop working on it
Publishing a book
Acting in lead roles in movies
Creating original music
Job
3
Active income is money a person gets from CONTINUALLY performing their professional task
False
True
4
Passive income is when a person gets paid, even though they HAVE NOT done any work
False
True
5
What are the 3 basic forms of income?
Passive Income
Acting Income
Portfolio Income
Active Income
6
What are some examples of Portfolio Income?
Doctor
Capital Gains
Stocks
Construction Worker
7
Passive Income requires...
Active time at the start, then gradually demands less time
No time
Requires heavy capital investment
No time at the start, then gradually demands more time
