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What is the difference between Gross Income and Net Income as it is applied to the typical worker?
Wiki User
∙ 11y ago
Gross income usually is the money someone or something has earned before any deductions such as taxes, expenses, or promotion has been deducted. If you are receiving money after such expenses have been deducted, you are receiving money based on NET income.
Wiki User
∙ 8y ago
Wiki User
∙ 11y agoNet Income would be after deductions (Taxes on Earnings/ Levies / Contributions- UIF etc) and would be the actual amount payed to the typical worker. Gross Income would be before these deductions and would be the advertised wage.
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What is the difference between consumption and income?
the difference between income and consumption
If actual overhead for the year is 33451 and applied overhead is 32000 is the overhead variance over applied or under applied assuming the amount is immaterial how would you dispose of the variance?
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
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a
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The income tax act focuses its concern on total income and the income tax rule focuses on which types of income are taxable. That is the biggest difference between the two.
Difference between net income and gross income?
Gross income is the difference between revenue and direct expenses while net income is the income from all activities of business whether oprating activities or other activities.
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cost
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
What is the term for the difference in income between the richest and poorest citizens?
You referring to 'income disparity.'
Are revenues the same as net income?
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
What is the difference between income and expenditure incurred?
Inflow of money is income . Outflow of money is expenditure
