Net vs. Gross (Income, Pay/Salary, etc.) in One Minute: Definition/Difference, Explanation, Examples

Gross income is the TOTAL amount of income made.  True or False

• False

• True

Gross income  _______________   deductions equals net income.  

 What word would make the sentence true?

• minus

• add

• times

Net income is what you get to keep to put in your bank to pay expenses.  

True  or   False

• True

• False

After tax pay is called  ______________.

• net pay 

• taxes

• gross pay