Understanding Income: Gross vs Net

What is gross income?

• The total income before any deductions

• The income after taxes and deductions

• The income from investments only

• The income from a part-time job

• $200

• $500

• $700

• $300

Tags

CCSS.3.OA.D.8

Which of the following is NOT a source of income?

• Salary

• Lottery winnings

• Grocery expenses

• Rental income

Tags

CCSS.6.NS.C.6C

• $800

• $1,200

• $1,000

• $200

Tags

CCSS.7.EE.B.3

Which of the following is an example of a deduction from income?

• Rent payment

• Tax payment

• Grocery shopping

• Buying a car

Tags

CCSS.2.OA.C.3

• $1,500

• $2,500

• $2,000

• $500

Tags

CCSS.7.EE.B.3

Which of the following is a source of gross income?

• Loan repayment

• Salary from a job

• Utility bills

• Credit card payment

• $2,000

• $4,000

• $3,000

• $1,000

Tags

CCSS.7.EE.B.3

What is the formula to calculate net income?

• Gross income + Deductions

• Gross income - Deductions

• Deductions - Gross income

• Gross income x Deductions

Tags

CCSS.7.RP.A.3

• $1,200

• $300

• $1,500

• $900

Tags

CCSS.2.NBT.B.7

CCSS.3.NBT.A.2