Types of income

Earnings paid to an employee based on an hourly rate. 

• Commission
• Wages
• Salary
• Deductions

Tags

CCSS.6.NS.B.3

An employee's fixed yearly income.

• Salary

• Deductions

• Wages

• Commission

Amounts of money taken from income before you are paid.

• Commission
• Retainer
• Deductions
• Rate

Tags

CCSS.7.RP.A.3

Total pay for earnings made over a one-year period before any deductions have been taken?

• Gross Annual Income

• Net Annual Income

• Gross Monthly Income

• Net Monthly Income

Total amount of earnings made over a month before any deductions

• Net Monthly Income

• Gross Monthly Income

• Income Tax

• Social Security

A social insurance program that extends health coverage to almost all Americans age 65 and over

• Income

• Fixed Costs

• Social Security

• Medicare

Income amount remaining after a year's worth of deductions have been taken.

• Net Monthly Income (NMI)

• Gross Annual Income (GAI)

• Gross Monthly Income (GMI)

• Net Annual Income (NAI)

A social insurance system that provides benefits to Americans who are sick, retired or disabled.

• Social Security

• Abilities

• Medicare

• Taxes

Alexis worked 24 hours last week. At a rate of $12 per hour, what was Alexis' gross pay?

• $36

• $144

• $288

• $312

Gross income minus deductions equals your net income.

If Amorelle made $384 in gross income and her deductions are $122, what is her net income?

• $506

• $406

• $262

• $266