ECONOMICS
INCOME DISTRIBUTION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Income amount remaining after a year’s worth of deductions have been taken.
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Net Monthly Income (NMI)
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Gross Annual Income (GAI)
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Gross Monthly Income (GMI)
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Net Annual Income (NAI)
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Explanation:
Detailed explanation-1: -The amount remaining after all withholdings are accounted for is net pay or take-home pay.
Detailed explanation-2: -Net income refers to the amount an individual or business makes after deducting costs, allowances and taxes. In commerce, net income is what the business has left over after all expenses, including salary and wages, cost of goods or raw material and taxes.
Detailed explanation-3: -Disposable income is net income. It’s the amount left over after taxes.
Detailed explanation-4: -Net Income = Total Revenues – Total Expenses Net Income or Net profit is calculated so that investors can measure the amount by which the total revenue exceeds the company’s total expenses.
There is 1 question to complete.