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what is gross income ?

Sagot :

Shemmarzan470idn

Gross income

  • It refers to the total income of a person or business from all resources
  • It is without deductions yet
  • Total profit before deductions
  • From all sources which means it is not just limited to the income via cash but also includes all the property and services received.

For individuals:

  • it is consist of the income which is the wages, salary, pensions, interests, rental and dividends.

For Business:

  • Includes the revenue less the cost of goods sold.
  • Except the other costs in the business

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