Income used to buy luxury items such as a Regent cruise is referred to as __________.

Question

Quizplus · Accepted Answer

Discretionary income refers to the income that is available after all necessary expenses have been paid, and it can be used at the discretion or choice of the individual, often towards luxury items or experiences such as a Regent cruise. Gross income refers to the total income earned before taxes or deductions, disposable income refers to the income left over after necessary expenses have been paid, surplus income refers to income that exceeds necessary expenses but may not necessarily be used for luxury items, and wealth income refers to income generated from assets or investments.

Income Used to Buy Luxury Items Such as a Regent