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1) Choose the right option: A. Net income = Taxable income B. Gross income= Taxable income C. Net income = Gross income D. Net income=

1) Choose the right option:

A. Net income = Taxable income

B. Gross income= Taxable income

C. Net income = Gross income

D. Net income= Gross income + Expenses

2)What is the taxable income if gross income is $120000 and expenses are 48000?

A. $168000

B. $72000

C. $120000

D. $48000

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