13
practice examMultiple Choice

Practice Exam

Question 13 • Economics

What is the definition of gross income?

Answer
A
amount received after deductions
B
amount of income saved per year
C
amount of tax deducted from income
D
amount earned before deductions

Explanation

Gross income is the total amount earned before taxes or other deductions are taken out. The amount left after deductions is net income, so choice B describes net income rather than gross income.

AI-written and checked against the verified answer.

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