Income can only be realized in money or services.

Economic Benefit

The gain received when money, goods, or services are obtained or when a financial burden is lifted.

Realized

In finance, realized usually pertains to the profit or loss that occurs when an investment is sold for a price different than its purchasing price.

Acquire knowledge on the notion of economic benefit and its significance in the context of income acknowledgment.

Verified Answer

Final Answer :

False

Explanation :

Income can be realized in various forms including money, services, and goods.

Learning Objectives

Acquire knowledge on the notion of economic benefit and its significance in the context of income acknowledgment.