ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the amount of a paycheck before taxes and other payroll deductions.
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the money you have available to spend as a result of working plus any other income, such as a gift or stock dividend.
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the amount you will receive when you cash your paycheck.
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cash inflows minus cash outflows.
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Detailed explanation-1: -: income remaining from salary or wages after deductions (as for income-tax withholding)
Detailed explanation-2: -What you earn (based on your wages or salary) is called your gross income. Employers withhold (or deduct) some of their employees’ pay in order to cover payroll taxes and income tax. Money may also be deducted, or subtracted, from a paycheck to pay for retirement or health benefits.
Detailed explanation-3: -Take-home salary or the In-hand salary is the amount which the employee receives after the tax, and other deductions are carried over. The difference between gross and net salary is that the salary that includes the income tax, professional tax, and other company policy deductions subtracted from the gross salary.
Detailed explanation-4: -Figure out the take-home pay by subtracting all the calculated deductions from the gross pay, or using this formula: Net pay = Gross pay-Deductions (FICA tax; federal, state and local taxes; and health insurance premiums).