Chelsea Had Earnings from Her Salary of $50,000, Interest on Savings

question 70

Multiple Choice

Chelsea had earnings from her salary of $50,000, interest on savings of $2,000, and a contribution to a registered retirement saving plan of $2,000.Chelsea's net income would be

• A)$50,000.
• B)$48,000.
• C)$52,000.
• D)$46,000.
• E)$49,500.

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Definitions:

Payments Received

The act of receiving money as an exchange for goods or services.

Restrictive Endorsement

A condition placed on a check or other financial document limiting its use or payment to a specific purpose or individual.

Redeemed

In healthcare or wellness, it often refers to the restoration or improvement of someone's health or condition.

Revenue Available

The total amount of income generated from sales or services before any expenses are deducted.