After paying taxes,living expenses,and necessities,you realize you have enough money to go on a week-long vacation to Turks and Caicos.This money is likely coming from which account?

Question

Quizplus · Accepted Answer

Discretionary income is the money left over after paying for necessary living expenses such as housing, food, and taxes. Since the individual has enough money to go on a vacation after paying for these necessities, it is likely coming from their discretionary income. Net income is the total amount of income after taxes and deductions, gross income is the total amount of income before taxes and deductions, and disposable income is the amount of income left after paying taxes.

After Paying Taxes,living Expenses,and Necessities,you Realize You Have Enough Money