2. Income can be earned – wages or salaries or, unearned income acquired from other sources e.g. share dividends, property, interest or other investments. It is subject to income tax. A person’s income falls dramatically on retirement. mainly used for INDIVIDUALS!!! BUT: company NET income = revenues - expenses INCOME – money that you earn from your job or that you receive from investments - DOHODAK, PRIHOD

3.  on high/low incomes  weekly/monthly/annual income  high-/low-/middle-income (area/group)  source of income

4. Earnings are the sums of money that a person receives for the work they do in a particular period of time, or the profit that a company makes in a particular industry or economy in a particular period of time. - ZARADA The word earnings is always in the PLURAL FORM. Women’s earnings are often less than men’s. This year, the steel industry’s earnings should be higher with the completion of modernization programs.

5. Revenue is similar in meaning to income but is more likely to refer to the money that a company or organisation receives through sales. - PRIHOD Revenue also refers to money received by a government in tax. We would NOT normally refer to a private individual’s income as revenue. There was a 10% fall in revenue from sales.

6.  tax revenue  sales revenue  advertising revenue

7. N.B. In Britain, the government department responsible for tax collection is the Inland Revenue (IR) while the corresponding department in the US is the Internal Revenue Service (IRS).

8. Choose the right word: 1. No one likes paying tax to the Inland 2. The price/ ratio is the present market price of a share divided by the company’s net per share in the previous accounting year. 3. People on low will be getting some help to pay their fuel bills. 4. The magazine has been losing advertising for months. earningsincome IncomeRevenue revenue earnings incomeearnings incomes revenueearnings income

9. Insert in the blanks the following words: INCOME, REVENUE, EARNINGS. 1. What is your approximate average __________? 2. ______________ per share is a measurement showing how much a company pays its shareholders for every share in the company they own. 3. The magazine has been losing advertising ___________ for months. 4. Germany is one of the high- _____________ countries. 5. Inland _____________ is the government organisation responsible for collecting taxes in the UK. 6. Internal ________ service (IRS) is the corresponding government organisation in the US. income Earnings revenue income revenue