An accounting term which is arrived at by subtracting the cost of goods sold from the total sales Traditionally, the term was used primarily in Business Interruption Insurance as the basis for determining how much insurance a policyholder should carry The latest Business Income insurance forms have dropped this term
Gross earnings include commissions, bonuses, or other incentives that can include various elements such as deferred income, profit sharing, stock options, tax shelters, estate building financial vehicles, pension plans, life insurance and in some cases additional inducements such as signing bonuses or other creative rewards Note: This definition isnt intended to be a substitute for an IRS or a Franchise Tax Board definition