Gross vs Net Income Review

Last updated about 1 year ago

10 questions

5.10.B

Library

Gross vs Net Income Review

Last updated about 1 year ago

10 questions

Question 1

5.10.B

Question 2

5.10.B

Question 3

5.10.B

Question 4

5.10.B

Question 5

5.10.B

Question 6

5.10.B

Question 7

5.10.B

Question 8

5.10.B

Question 9

5.10.B

Question 10

10.

5.10.B

Question 1

Net income is a larger amount than gross income.

True

False

Question 2

Gross income is all of the money earned, including taxes.

True

False

Question 3

When a person receives their pay check, the amount paid is the net income.

True

False

Question 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

A deduction is subtracted from the net income.

True

False

Question 6

The deductions and taxes plus the gross income equals the net income.

True

False

Question 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

The gross income is the sum of the income taxes and payroll taxes.

True

False

Question 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

Net income is a larger amount than gross income.

True

False

Gross income is all of the money earned, including taxes.

True

False

When a person receives their pay check, the amount paid is the net income.

True

False

You can find the gross income by adding the net Income to the taxes and deductions withheld from the check.

True

False

A deduction is subtracted from the net income.

True

False

The deductions and taxes plus the gross income equals the net income.

True

False

If an employee earned $600, but had to pay $65 in taxes and deductions, his gross income would be $665.

True

False

The gross income is the sum of the income taxes and payroll taxes.

True

False

If an employee earned $600, but had to pay $65 in deductions, and taxes, his net income would be $535.

True

False

Taxes and deductions are subtracted from the net income.

True

False