What is the income received after all necessary expenses are deducted called?

The income received after all necessary expenses are deducted is known as Net Profit. This term specifically refers to the amount remaining from revenues after all costs of doing business, such as taxes, operating expenses, interest, and depreciation, have been subtracted. It reflects the true profitability of a business and is crucial for assessing financial performance.

Net Profit is a key indicator used by stakeholders to understand if a business is generating enough revenue to cover its expenses and still have funds left over. It essentially represents the "bottom line" of a business's income statement.

The other terms listed, such as Adjusted Income, Net Pay, and Take-Home Pay, refer to different financial concepts. Adjusted Income usually refers to earnings that have been modified to exclude certain expenses or to account for specific accounting practices. Net Pay typically describes the amount an employee takes home after payroll deductions, and Take-Home Pay is synonymous with Net Pay. However, these terms do not encapsulate the broader business concept of profit after all expenses, which is specifically what Net Profit signifies.