Simple English definitions for legal terms
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Earnings refer to the money that someone makes from working, investing, or owning assets. It can also include money that is set aside for a specific purpose and cannot be used for other things. When someone is unable to work due to injury or job loss, they may be awarded lost earnings as compensation. This money represents what they would have earned if they had not been unable to work.
Earnings refer to the revenue gained from labor or services, investment of capital, or assets. It is a form of income that individuals or companies receive.
The examples illustrate how earnings can be earned through various means such as labor, investment, or assets. Gross earnings show the total income earned before any deductions or taxes are taken out. Lost earnings refer to the income that an individual could have earned if they had not lost their job, suffered a disabling injury, or died. Appropriated retained earnings are retained earnings that a company designates for a specific purpose and are therefore unavailable for other uses.