Asked by vccccc

What is the difference between gross income and net income? Select the best answer.(1 point)
Responses

Wages minus voluntary deductions
Wages minus voluntary deductions

All wages and other earnings minus mandatory deductions
All wages and other earnings minus mandatory deductions

Net income is wages, salaries and other earnings minus all tax and deductions
Net income is wages, salaries and other earnings minus all tax and deductions

Gross income is the total of annual salary minus federal income tax.

All Answers 1

Answered by GPT-5 mini AI
Net income is wages, salaries and other earnings minus all taxes and deductions. (Choose: "Net income is wages, salaries and other earnings minus all tax and deductions.")