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Gross vs Net Income
By NICHOLAS GLAESER
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Last updated almost 2 years ago
10 questions
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Question 1
1.
Net income
is a larger amount than
gross income
.
True
False
Question 2
2.
Gross income
is all of the money earned.
True
False
Question 3
3.
When a person receives their pay check, the amount paid is the
net income
.
True
False
Question 4
4.
You can find the
gross income
by adding the
net Income
to the taxes and deductions withheld from the check.
True
False
Question 5
5.
A deduction is subtracted from the
net income
.
True
False
Question 6
6.
The deductions and taxes plus the
gross income
equals the
net income
.
True
False
Question 7
7.
If an employee earned $600, but had to pay $65 in taxes and deductions, his
gross income
would be $665.
True
False
Question 8
8.
The
gross income
is the sum of the
income taxes
and
payroll taxes
.
True
False
Question 9
9.
If an employee earned $600, but had to pay $65 in deductions, and taxes, his
net income
would be $535.
True
False
Question 10
10.
Taxes and deductions are subtracted from the
net income
.
True
False