BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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After all deductions are subtracted from total wages, the remaining amount is called gross pay.
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True
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False
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Explanation:
Detailed explanation-1: -A deduction is an expense that can be subtracted from a taxpayer’s gross income in order to reduce the amount of income that is subject to taxation.
Detailed explanation-2: -Gross pay is the total amount of income you receive as wages before any taxes or other deductions are withheld by your employer. Deductions may include things like federal and state income tax withholding, employee benefit premiums like dental and health insurance, or 401(k) retirement account contributions.
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