____________ Is the Most Preferred Way for One to Deal

question 29

Multiple Choice

____________ is the most preferred way for one to deal with budget deficits. ​

• A)Liquidating one's savings and investments
• B)Borrowing money from one's relatives
• C)Cutting one's low-priority expenses
• D)Increasing one's income

---

Definitions:

Accounting Equation

The fundamental equation representing the relationship among assets, liabilities, and owner's equity: Assets = Liabilities + Owner’s Equity.

Creditor

An individual or entity that is owed money by another party, often in the context of loaning funds or issuing credit.

Liability

The financial liabilities or obligations a company is legally bound to settle, which emerge in the process of conducting its business activities.

Owner's Equity

The amount of ownership an individual or entity has in a company, represented by the assets minus liabilities and often seen as the owner's claim against the company's assets.