5.10B

Kathy received a paycheck for $685 after taxes and deductions. What type of income did she receive?

• Net income

• Gross income

• Payroll income

• None of the above

Leon earns $15 per hour. He worked 40 hours last week and had $125 deducted in payroll taxes. How much was Leon's net income?

• $475

• $525

• $600

• $425

Jeremy worked 40 hours last week. He earns $12 per hour. His deductions totaled $43.68. What was Jeremy's net income for the week?

• $523.68

• $480.00

• $436.32

• $423.68

Ari's net income for one pay period was $617.93. His taxes totaled $74.28 and his other deductions totaled $58.25. What was Ari's gross income?

• $601.90

• $485.40

• $633.96

• $750.46

Based on the Pay statement, what is Scott's net income for ONE week?

• $1144.34
• $151.16
• $572.17
• $1280.00

Which of the following describes net income?

• Net income is the amount of taxes that are paid.

• Net income is the amount of income after taxes are paid.

• Net income is the amount of income before taxes are paid.

• Net income is the amount of income paid for goods and services

The amount of money a person earns before taxes are taken out is called the __________________________.

• Gross Income

• Net Income

• Possible Income

• None of the above.

The amount of money a person actually earns after taxes in a paycheck is called the ____________________.

• Gross Income

• Net Income

• Payroll Income

• None of the above.

Tenisha’s gross monthly income is $1,200. Her total monthly payroll taxes are $175. What is the amount of Tenisha's net monthly income?

• $1,375

• $700

• $1,025

• $500

Which of the following describes the gross income?

• Gross income is the amount of taxes paid.

• Gross income the amount of income after taxes are paid.

• Gross income is the amount of income before taxes are paid.

• Gross income is the amount of income of buying goods and services.