Multiple Choice Questions on Which of the following options represents the total income earned by individuals from all the source........... for SSC CGL Exam Preparation

Indian Economy

General Studies (CGL)

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    Which of the following options represents the total income earned by individuals from all the sources before deduction of personal income taxes?

    This questions was previously asked in
    SSC CGL Tier II Paper 1 (26.10.2023)

    Disposable income 

    Incorrect Answer

    Personal income

    Correct Answer

    Gross income

    Incorrect Answer

    National income

    Incorrect Answer
    Explanation:

    - Disposable Income: This is the amount of money individuals have after taxes have been deducted. It's available for spending or saving.

    - Personal Income: This includes total income from all sources before personal income taxes are deducted. It encompasses wages, investments, and other sources.

    - Gross Income: Typically refers to the total earnings before deductions like taxes, retirement contributions, or other withholdings, but usually within a business or investment context.

    - National Income: This is the total income earned by a country’s residents and businesses, including wages, investments, and profits within a specific time period, typically a year.

    Correct Answer:

    - Personal Income is the correct option that represents the total income earned from all sources before deduction of personal income taxes.


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