Ask Question
1 July, 08:43

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

+4
Answers (1)
  1. 1 July, 11:04
    0
    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.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Net income = Gross income - Business Expenses and Deductions. Given the following information, what does the net income for the month ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers