Income
is money received for work or from investments.
For a company to survive, its income needs to be more than its expenses.
People who earn a good salary can buy what they need to survive.
A receipt
is given to you after you have paid for something.
A receipt is proof that you have paid for something.
A receipt shows that something has been paid for.
After paying for something, be sure to get a receipt.
An invoice
is a request for payments.
An invoice lists the prices and products being bought.
To invoice someone means to give them a bill for products or services.
Once an invoice is paid, it can be used as a receipt.
Taxes
are what we pay to the government for government services.
Taxes pay for many services, such as education, police, and health care.
An income tax is a tax on your income.
In some countries, income taxes are very high.
Interest
is what we pay to lenders when we borrow money.
If someone lends you money, you pay interest for the use of that money.
If you get a loan from a bank, you will pay interest to the bank.
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