Which of the following series of inequalities is generally most accurate?
A)Gross income ≥ adjusted gross income ≥ taxable income
B)Adjusted gross income ≥ gross income ≥ taxable income
C)Adjusted gross income ≥ taxable income ≥ gross income
D)Gross income ≥ taxable income ≥ adjusted gross income

Question

Quizplus · Accepted Answer

Gross income is the total income before any deductions or adjustments. Adjusted gross income (AGI) is gross income minus specific deductions (but before standard or itemized deductions and personal exemptions). Taxable income is what remains after all deductions and exemptions are applied to the AGI, hence it's usually the smallest amount. Therefore, the series Gross income ≥ adjusted gross income ≥ taxable income is most accurate.

Which of the Following Series of Inequalities Is Generally Most