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Which of the following statements is true? *
Monthly Net Savings = Total Monthly Expenses - Monthly Net Income
O Net Income = Gross Income * Taxes Owed
Monthly Net Savings = Monthly Net Income * Total Monthly Expenses
Net Income = Gross Income - Taxes Owed

Respuesta :

Samawati

Answer:

Net Income = Gross Income - Taxes Owed

Explanation:

Net income is the amount one gets after all deductions are considered. Deductions include taxes, expenses, voluntary and involuntary contributions.

To a salaried person, net income is the gross pay minus taxes and all deductions. It is the take-home pay.

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