Gross income is…Group of answer choicesIncome, gain, or profit that is subject to tax.This is income where taxes are already deducted.

Gross income is:A.the total amount an employer withholds for taxes.B.the amount of pay after tax and benefit deductions.C.the amount of pay after tax but before benefit deductions.D.the total amount of earned salary or wages.SUBMITarrow_backPREVIOUS

Gross income is:Athe total amount of money you earnBthe amount of money you receive after decuctions are subtractedCthe total amount of money you spendDsales taxes on items you buy

Which statement best describes the difference between gross income and taxable income?*1 pointGross income includes all deductions, while taxable income is income before any deductionsThey are the same; both represent the total income an individual earns in a yearTaxable income is always higher than gross incomeGross income is the total income earned, while taxable income is gross income minus deductions and exemptions

Gross profit is:Group of answer choicesthe amount left over after cost of goods sold is subtracted from net salesnet sales less selling expensessales less sales discountsnet sales less operating expenses

Gross national income (GNI) is defined as:Group of answer choicesThe total income of all locally-owned businesses plus income earned by foreign employeesThe country's total earnings from exports and mining.The total income from all final products of the national economy plus income earned by nationals from overseas investmentsThe total income of all foreign-owned business in the country, minus the value of their imports