A deficit occurs when:
A)Assets exceed liabilities.
B)Expenses exceed revenues for the year.
C)Dividends exceed income for the year.
D)Cumulative expenses and dividends have exceeded income.

Name: A deficit occurs when: A)Assets exceed liabilities. B)Expenses exceed revenues for the year. C)Dividends exceed income for the year. D)Cumulative expenses and dividends have exceeded income.
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Question

Quizplus · Accepted Answer

A deficit occurs when cumulative expenses and dividends have exceeded income.

A Deficit Occurs When