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2 April, 10:44

Which of the following is NOT included when calculating gross income?

Paychecks

Alimony

Investment income

Scholarships

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Answers (1)
  1. 2 April, 12:16
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    Financial incomes other than scholarships can be included in the calculation of gross income.

    Explanation:

    The gross revenue, cost of sold goods marks the gross income for a business which is also known as gross margin. It does not include all the other costs in running the business.

    For an individual, gross income is the total financial income that he/she receives before paying tax or other deductions is known as gross income or gross pay. It not only includes wages and salary but also the other incomes namely alimony, pension, tips, rental income, investment income, capital gains and dividends.
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