11
practice testMultiple Choice

Practice Test

Question 11 • Personal Finance and Economics

What is the definition of gross income?

Answer
A
amount of income saved per year
B
amount received after deductions
C
amount earned before deductions
D
amount of tax deducted from income

Explanation

Gross income is the total amount earned before taxes or other deductions are taken out. The amount left after deductions is net income, so choice B describes net income rather than gross income.

AI-written and checked against the verified answer.

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