If Expenses Are Less Than Revenue,a Net Income Is Incurred

question 83

True/False

If expenses are less than revenue,a net income is incurred.

---

Definitions:

Maturity Date

The date on which the principal amount of a loan, bond, or other financial instrument becomes due and payable.

Leap Years

Years that include an extra day (February 29) to keep the calendar year synchronized with the astronomical year.

Leap Years

Years with an extra day (February 29) added to keep the calendar year synchronized with the astronomical year or seasonal year.

Interest Computation

The process of calculating the interest due on a loan, based on the principal, interest rate, and time.