True or False 1. Net earnings can be greater than gross earnings. 2. If the total deduction is 0, then gross earnings is equal to net earnings. 3. Overtime pay is part of deductions. 4. Gross + net earnings is equal to deduction plus twice the net earnings. 5. Taxes are added in the deductions. 6. Other benefits and payment of loans are deducted from the gross earnings. 7. The total deduction is always equal to the net earnings. 8. If the total deduction is 0, then it follows that gross earnings is non-taxable. 9. If the total deduction is more than the net earnings, then the net earnings is more than half of the gross earnings. 10. Gross earnings is sometimes greater than net income. ​

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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True or False

1. Net earnings can be greater than gross earnings.

2. If the total deduction is 0, then gross earnings is equal to net earnings.

3. Overtime pay is part of deductions.

4. Gross + net earnings is equal to deduction plus twice the net earnings.

5. Taxes are added in the deductions.

6. Other benefits and payment of loans are deducted from the gross earnings.

7. The total deduction is always equal to the net earnings.

8. If the total deduction is 0, then it follows that gross earnings is non-taxable.

9. If the total deduction is more than the net earnings, then the net earnings is more than half of the gross earnings.

10. Gross earnings is sometimes greater than net income.

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