Which of the Following Statements Is True of an Income

question 154

Multiple Choice

Which of the following statements is true of an income statement?

• A) There is net income when total expenses are greater than total revenues.
• B) There is a net loss when total expenses are less than total revenue.
• C) There is a net loss when total expenses are greater than total liabilities.
• D) There is net income when total revenues are greater than total expenses.

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Definitions:

Stress

The physical or mental strain or tension resulting from challenging or adverse situations.

Illness

A state of being in poor health, typically as a result of disease, infection, or injury.

Cognitive Tendency

The inclination of individuals to think in certain patterns, often leading to biases or specific ways of processing information.

Genetic Predisposition

The increased likelihood of developing certain diseases or conditions based on an individual's genetic makeup.