A local pet supplies boutique had a good year with rising revenues and reduced operating costs resulting in personal income for the owner of nearly $150,000. One-third of that went to local, state, and federal income taxes and another third went to pay for a home mortgage, car payments, food, clothing, and other necessities. What is the remaining third called?

Question

Quizplus · Accepted Answer

Discretionary income is the portion of an individual's income that is left for spending, investing, or saving after taxes and necessities have been paid.

A Local Pet Supplies Boutique Had a Good Year with Rising