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.
Net 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.
the difference between income and consumption
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
there is no difference.
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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.
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.
cost
Income statement & balance sheet.
You referring to 'income disparity.'
Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
Inflow of money is income . Outflow of money is expenditure