TRUE OR FALSE __1. Gross earnings is sometimes greater than net income. __2. Net earnings can be greater than gross earnings. __3. The total deduction is always equal to the net earnings. __4. Gross + net earnings is equal to deduction plus twice the net earnings. __5. If the total deduction is 0, then gross earnings is equal to net earnings. __6. Overtime pay is part of deductions. __7. Taxes are added in the deductions. __8. Other benefits and payment of loans are deducted from the gross earnings. __9. If the total deduction is 0, then it follows that gross earnings is non-taxable. __10. If the gross deductions is more than the net earnings, then the net earnings is more than half of the gross earnings. __11. If total earnings is thrice of the deduction, then the net pay is twice of the deduction. __12. The sum of the deduction to and net pay sometimes equal to the total earnings. __13. If the total earnings is total to the deduction, then the net pay is twice as much as the deduction.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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TRUE OR FALSE

__1. Gross earnings is sometimes greater than net income.
__2. Net earnings can be greater than gross earnings.
__3. The total deduction is always equal to the net earnings.
__4. Gross + net earnings is equal to deduction plus twice the net earnings.
__5. If the total deduction is 0, then gross earnings is equal to net earnings.
__6. Overtime pay is part of deductions.
__7. Taxes are added in the deductions.
__8. Other benefits and payment of loans are deducted from the gross earnings.
__9. If the total deduction is 0, then it follows that gross earnings is non-taxable.
__10. If the gross deductions is more than the net earnings, then the net earnings is more than half of the gross earnings.
__11. If total earnings is thrice of the deduction, then the net pay is twice of the deduction.
__12. The sum of the deduction to and net pay sometimes equal to the total earnings.
__13. If the total earnings is total to the deduction, then the net pay is twice as much as the deduction.

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