MANAGEMENT

Detailed explanation-1: -What is Net Income? Net income is the amount of accounting profit a company has left over after paying off all its expenses. Net income is found by taking sales revenue and subtracting COGS, SG&A, depreciation, and amortization, interest expense, taxes and any other expenses.

Detailed explanation-2: -Typically, net income is synonymous with profit since it represents the final measure of profitability for a company. Net income is also referred to as net profit since it represents the net amount of profit remaining after all expenses and costs are subtracted from revenue.

Detailed explanation-3: -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-4: -Net income is your take-home pay from your job; the amount of money that goes into your pocket after paying taxes and any other deductions. Taxes and deductions are taken from your gross income to arrive at net income.

Detailed explanation-5: -Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. The amount remaining after all withholdings are accounted for is net pay or take-home pay.