When Total Expenses Exceed Total Revenues,the Result Is

question 111

Multiple Choice

When total expenses exceed total revenues,the result is:

• A)a net profit.
• B)a net loss.
• C)a dividend.
• D)excess cash.

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Definitions:

Minor Flaws

Small defects or imperfections in an item or product that do not significantly affect its use or value.

Course of Performance

The conduct between parties under a contract that indicates what they consider to be the agreement's requirement, used to interpret the contract's terms.

Course of Dealing

The conduct between parties in previous transactions that establishes a common basis for their understanding.

Conforming Goods

Products or materials that meet the specifications and standards outlined in a contract or agreement between buyer and seller.