AuthorTopic: What is the difference between national income and personal income?
bsvin
@2010-01-17 08:16:33
Study information available here stay that: Some money can be earned but not received. What is the meaning of earned and received respectively? What is the difference of them? Thanks!
brainMan
@2010-01-18 16:54:01
You work for a month and your boss is supposed to pay you $3,000. However, he is short of cash and he promise to pay you in two months. In this case, you have earned $3,000 but have not received it.

Check study session 7 where the accrual concept is discussed.

brainMan
bsvin
@2010-01-24 07:57:19
Thank you very much, brainman!!

CFA Discussion Topic: What is the difference between national income and personal income?

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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes

Barnes