When Expenses Exceed Revenues, Which of the Following Is true

question 81

Multiple Choice

When expenses exceed revenues, which of the following is true?

• A)a net loss results
• B)a net income results
• C)assets equal liabilities
• D)assets are increased

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Definitions:

Modus Tollens

A logical argument principle that infers the negation of an antecedent from the negation of its consequent in a conditional statement.

Antecedent

An element in grammar that a pronoun or another word refers back to; in logic, the condition in a conditional statement that if true, leads to the consequent.

Standard Form

A structured format for presenting arguments or equations in a universally understood manner.

Proposition

A declarative sentence that can be either true or false but not both.