Which of the Following Combinations Results in a Net Loss

question 78

Multiple Choice

Which of the following combinations results in a net loss reported on the income statement?

• A)Total revenues of $80,000 and total expenses of $74,000.
• B)Total revenues of $70,000 and total expenses of $74,000.
• C)Total revenues of $60,000 and total expenses of $52,000.
• D)Total revenues of $20,000 and total expenses of $16,000.
• E)Total revenues of $40,000 and total expenses of $31,000.

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Definitions:

Adult Americans

Individuals living in the United States who are 18 years of age or older.

Share

A unit of ownership interest in a corporation or financial asset that provides for an equal distribution in any profits, if any are declared, in the form of dividends.

Democracy

A form of government in which power is vested in the people, who rule either directly or through freely elected representatives.

Alexander Tytler

A Scottish historian and writer often cited, sometimes inaccurately, in discussions about democracy and societal cycles.