CORRECTED GROSS INCOME

1. the AC -1 reports the gross income of the organization for the week, shows the calculation of the corrected gross income and the allocation of the corrected gross income. The corrected gross income is the income available for use and is calculated by deducting various items as detailed on the AC1 form. (BPL 4 Dec 72 IIRB) 2. in a Central Organization, all the money taken, whether in cash or checks, is banked in the Main Account at the Central Org's local bank. Ten per cent of this total taken during one week is remitted to HCO WW. This leaves 90% of the total take for that week in the Main Account. This balance is called the corrected gross income. (HCO PL 20 Feb 63)[The above HCO PL was cancelled by BPL 10 Oct 75 IV.] See ALLOCATION SUM.