Question

From the items given in Column - I and Column - II, choose the correct pair.

Column - I	Column - II
(a) Income from Property	(i) Old age pension
(b) Income from Entrepreneurship	(ii) Profit
(c) Mixed Income	(iii) Rent-free accommodation from an employer
(d) Compensation of Employees	(iv) Interest from capital

Options

• (a) - (i)

• (b) - (ii)

• (c) - (iii)

• (d) - (iv)

Answer 1

(b) - (ii)

Explanation:

1. Income from entrepreneurship is the profit received by entrepreneurs in return for their risk-bearing and managerial skills.
2. Income from property includes rent or royalty, and does not cover old age pension.
3. Mixed income refers to the earnings of self-employed individuals, as it combines aspects of wages, rent, interest, and profit. Rent-free housing is part of compensation of employees.
4. Compensation of employees consists of wages, salaries, and other benefits, and does not include interest earned on capital.