True or falssGross earning is sometimes greater than net income.Net earning can be greater than gross earning.The total deduction is always equal to the net earning.Gross + Net earning is equal to the net earning.If the Deduction is 0, then Gross Earnings = Net Earnings.Overtime pay is the part of the deduction.Taxes are added in the deduction.Other benefits and Payment of Loans are deducted from the Gross.If the deduction is more than the net earning, then the net earning is more than half of the gross earning.If the total earning is thrice that of the deduction, then the net pay is twice that if the deduction.If the total earning is thrice that of the deduction, then the net pay is twice that of the deductionThe sum of the deduction and the net pay is sometimes equal to the total earning.All wage earner can avail benefits of any wage earner.13th month pay is equivalent to annual salary of any employee.Total Earning of any employee is not always equal to the basic pay.An employer can give 14th month pay to all of his employees that is equivalent to the 13th month pay.Living allowance is a must benefit given to all employees.A pregnant employee may not have a maternity leave benefit.Retirement Benefit can only be availed if the age of the employee is more than or equal to 60 years old.

Gross profit is the profit generated by the firm from operating activities without adjusting the…

Answered: True or falss Gross earning is…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter9: Payroll, Estimated Payments, And Retirement Plans

Section: Chapter Questions

Problem 16MCQ

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True or falss

Gross earning is sometimes greater than net income.
Net earning can be greater than gross earning.
The total deduction is always equal to the net earning.
Gross + Net earning is equal to the net earning.
If the Deduction is 0, then Gross Earnings = Net Earnings.
Overtime pay is the part of the deduction.
Taxes are added in the deduction.
Other benefits and Payment of Loans are deducted from the Gross.
If the deduction is more than the net earning, then the net earning is more than half of the gross earning.
If the total earning is thrice that of the deduction, then the net pay is twice that if the deduction.
If the total earning is thrice that of the deduction, then the net pay is twice that of the deduction
The sum of the deduction and the net pay is sometimes equal to the total earning.

All wage earner can avail benefits of any wage earner.
13^th month pay is equivalent to annual salary of any employee.
Total Earning of any employee is not always equal to the basic pay.
An employer can give 14^th month pay to all of his employees that is equivalent to the 13^th month pay.
Living allowance is a must benefit given to all employees.
A pregnant employee may not have a maternity leave benefit.
Retirement Benefit can only be availed if the age of the employee is more than or equal to 60 years old.

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