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What is aggregate income?
The total amount that households and businesses receive before taxes and other expenses are deducted is called aggregate income.
If expenses are greater than income there's no?
There is no money.
What is the us deficit?
The difference, on a yearly basis, between the budget (expenses) for the federal government of the United States and revenues (income). When the expenses are more than the income, the difference is called the deficit. When the income is more than the expenses, the difference is called a surplus.
What is the income after taxes used to buy the necessities of living called?
The income after taxes used to buy the necessities of living is called disposable income. This amount is what individuals have available to spend or save after fulfilling their tax obligations. Disposable income is crucial for budgeting essential expenses such as housing, food, and healthcare.
How is discretionary income calculated?
Discretionary income is calculated by taking your gross income minus your expenses and what you are left with is discretionary income. Most Americans do not have a large amount of discretionary income.
What is the difference amount of expense over income called when income exceeds expense?
Expenses more than income is called "Loss" Income over expenses called "Profit"
What is it called when your expenses are greater than your revenues on an income statement?
loss
What is it called when your expenses are greater than your revenue on an income statement?
loss
If expenses are greater than income there is no what?
There is no profit.
If expenses are greater than income there's no?
There is no money.
What is aggregate income?
The total amount that households and businesses receive before taxes and other expenses are deducted is called aggregate income.
How do you calculate percentage for expenses on an income statement?
Its the amount of expenses divided on the amount of incomes *100 , so we can get the percentage of expenses from incomes .
What is the relationship between income and expenses before a break-even point is reached?
Before the break even point, total expenses exceed total income and there is a loss made.
How do you calculate deductions for taxes or other expenses?
To calculate deductions for taxes or other expenses, you typically subtract the amount of the deduction from your total income. This reduced amount is then used to determine the final amount you owe in taxes or the net income you have after expenses.
Definition of net income?
The amount by which revenue exceeds expenses. If expenses exceed revenue it is a net loss.
What is it called when your income outweighs your expenses?
Lucky!
What is it called when your expenses exceed your income?
UNSUCCESSFUL
