CAEC Canadian Adult Education Credential Exam

What is the difference between gross income and net income?

Gross income is after taxes; net income is before taxes Gross income is before taxes and deductions; net income is after taxes and deductions Gross income includes overtime pay; net income does not Gross income is annual; net income is monthly

Correct Answer:

Gross income is before taxes and deductions; net income is after taxes and deductions

Access more questions from this quiz

Continue to CAEC Canadian Adult Education Credential Exam for more practice questions and the full quiz experience.

Access More Questions