Money a Consumer Has Left After Paying Taxes to Use

question 282

Multiple Choice

money a consumer has left after paying taxes to use for necessities such as food,shelter,clothing,and transportation is referred to as __________.

• A) net income
• B) disposable income
• C) discretionary income
• D) household income
• E) gross income

---

Definitions:

Periodic Inventory System

An inventory system where stock levels and cost of goods sold are calculated at the end of an accounting period, rather than updated continuously.

Net Method

An accounting method that records purchases after deducting any available discounts, directly showing the net purchase cost.

Credit Terms

Conditions under which credit will be extended to a customer, including repayment timeframe and interest rate.

Merchandise Inventory

Goods a company has in stock and available for sale, typically in a retail or wholesale setting.