Answers Crowley Credit Recovery Economics Paying TaxesQuestion 8

8

QuizMultiple Choice

Paying Taxes

Question 8 • Crowley Credit Recovery Economics

How is gross income different from net income?

Answer

A

Gross income and net income include all the money you have made.

B

Gross income and net income are the same, except net income is only reported on tax forms.

C

Gross income is how much money you want to make, while net income is your taxable income.

D

Gross income is how much money you make, while net income is your gross income minus deductions.

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How is gross income different from net income?