BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Adjusted Gross Pay
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Net Pay
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Taxable income
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Job expense
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Detailed explanation-1: -Net salary is the gross salary minus deductions such as professional tax, pension, income tax, etc., while gross is inclusive of all benefits such as medical allowance, conveyance, house rent allowance, etc.
Detailed explanation-2: -Gross pay is how much employees earn before taxes and other withholdings, whereas net pay is the amount of money employees actually take home after all payroll deductions. For example, if an employee makes $8, 000 gross per month and has $1, 700 deducted for taxes and benefits, that individual’s net pay would be $6, 300.
Detailed explanation-3: -Net Pay = Gross Pay – Deductions and Taxes It’s that simple. All you have to do is figure out your gross pay and total deductions and taxes, then subtract the latter from the former.
Detailed explanation-4: -A negative net income means a company has a loss, and not a profit, over a given accounting period. While a company may have positive sales, its expenses and other costs will have exceeded the amount of money taken in as revenue.