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3 November, 00:01

Net income = Gross income - Business Expenses and Deductions. Given the following information, what does the net income for the month equal? Gross Income = $4,000, Expenses = $1,000, Deductions = $500a. $500b. $1,000c. $2,500d. $3,000

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  1. 3 November, 01:37
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    c. $2,500

    Explanation:

    Given that

    Net income = Gross income - Business Expenses and Deductions

    By following this above formula, the net income would be

    = $4,000 - $1,000 - $500

    = $2,500

    The net income has come after subtraction of the business expenses and the business deductions from the gross income.

    Hence, the net income is $2,500 i. e option c.
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Home » Business » Net income = Gross income - Business Expenses and Deductions. Given the following information, what does the net income for the month equal? Gross Income = $4,000, Expenses = $1,000, Deductions = $500a. $500b. $1,000c. $2,500d. $3,000
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