The Total Amount of Income Earned Before Deductions Is Referred

question 41

Multiple Choice

The total amount of income earned before deductions is referred to as the ____.

• A) net earnings
• B) quarterly return
• C) tax liability
• D) gross earnings
• E) withholding allowance

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Definitions:

Invest

To allocate money in the expectation of some benefit in the future.

Investment Plan

A strategy developed by individuals or financial advisors to allocate assets with the goal to meet future financial goals.

Expense

Costs or charges incurred in the operation of a business or the execution of a transaction.

RRSP

Registered Retirement Savings Plan, a Canadian investment vehicle for individuals to save for retirement while taking advantage of tax deferrals.