If your statement of income and expenditures shows a deficit,you may have:
A) increased your debts.
B) increased your assets.
C) added to savings.
D) taken a cash loan on your insurance.
E) sold some securities.

Question

Quizplus · Accepted Answer

A deficit in income and expenditures means that you have spent more money than you have earned, which would require you to borrow money or increase your debts in order to cover your expenses. This is the opposite of increasing your assets or adding to savings, and taking a cash loan on your insurance or selling securities may also be options for generating funds but do not necessarily address the underlying issue of overspending.

If Your Statement of Income and Expenditures Shows a Deficit,you