scenario: carl has just received his weekly check from his after - school job. in his budget, he did not…

scenario: carl has just received his weekly check from his after - school job. in his budget, he did not plan for withholdings. now that he has received his check, he has been reminded that taxes will be withheld. he realizes that he needs to return to his budget and make some changes. based on this information, which is the first change should carl make to his monthly budget? a greater gross income a greater amount for discretionary spending a lower net income a decrease in the number of fixed expenses

scenario: carl has just received his weekly check from his after - school job. in his budget, he did not plan for withholdings. now that he has received his check, he has been reminded that taxes will be withheld. he realizes that he needs to return to his budget and make some changes. based on this information, which is the first change should carl make to his monthly budget? a greater gross income a greater amount for discretionary spending a lower net income a decrease in the number of fixed expenses

Answer

Brief Explanations:

Gross income is the total earnings before any deductions. Net income is what's left after deductions like taxes. Since taxes will be withheld from Carl's paycheck, his net income will be lower. Discretionary spending is for non - essential items and not the first change. Fixed expenses are not affected by tax withholdings.

Answer:

a lower net income