### possession | sum | income:

Net income
* are incomes.
* includes net realized investment gains or losses.
* is an income
  - assumed to be used to retire debt
  - calculated as gross income less direct costs
  - derived from gross income by deducting exempt income and allowable deductions
  - divided by net sales
  - earnings after income tax and other compulsory deductions have been deducted
* is equal to receipts minus expenses plus or minus the change in inventories
  - revenue minus expenses
  - federal taxable income
  - gross income less a deduction for federal tax and social security payments
* is gross income minus allowable deductions
  - direct taxes
  - just one of the factors used in making financial aid decisions
* is the after-tax return
  - amount of money left after all expenses are paid
  - difference between revenues and expenses
  - excess of revenues over expenses
  - gross income less taxes and social security assuming one deduction
  - money a company earned after taxes
  - single most significant measure of profitability
  - source for principal payments, firm reinvesting and owners' salaries
* reflects a decrease in the cost of sales.
* reflects an increase in gains on the sales of securities
  - interest expense related to higher borrowing costs
  - increased economies of scale and higher gross margins
  - the income available for common stockholders
* represents returns to owned equity and land, family labor, management and risk.

Net profit
- obtained by deducting overheads and depreciations from gross profit
* is the money left after all costs are deducted from gross sales and all taxes are paid
  - total earnings of a company after all costs, including taxes
* is what a company earns after all expenses and taxes are deducted
  - vanishes under creative accounting
* refers to profits after deducting income taxes and includes extraordinary gains.

### possession | sum | income:

Personal income
* are among the highest in the world
  - incomes
* comprises salaries, wages, pension, income from independent business activities etc.
* continues to grow, achieving real gains above and beyond the rate of inflation.
* includes wage and salary income, proprietor's income and employee benefits.
* is an income
  - broader based and more reflective of a person's ability to pay taxes
  - calculated from the wages and salaries component of non-farm payroll
  - expressed in millions of dollars
  - made up of earnings, returns to wealth, and transfer payments
* is measured before the deduction of personal income taxes and other personal taxes
  - by place of residence
* is the broadest measure for which reliable current data are readily available
  - flow of capital
  - most significant factor in explaining why voters vote as they do
  - used by the federal government to allocate funds to state and local governments
* refers to salary a person earns in a specific job.

### possession | sum | income | personal income:

Poverty line
* Poverty Lines are threshold income values.
* Some poverty lines are better than others at measuring changes in poverty over time.
* are personal incomes.
* is an abstraction that s essential to measure how poor a country is.
* work best when they are used to measure the incomes of large groups of people.