unearned income
Definitions (2)
1. Accounting: Income received before a good is sold or a service is provided. Unearned income is classified as a current liability on the balance sheet until it is recognized as earned income during the accounting cycle.
2. Taxation: Income derived from means other than the provision of personal efforts, such as that derived as dividends, interest, or rent. Pensions and royalties, however, are not considered earned income.
News containing the term unearned income
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