If your statement of income and expenditures shows a deficit,you may have
A) increased your debts.
B) increased your assets.
C) added to savings.
D) bought additional insurance.
E) paid off some of your debts.

Question

Quizplus · Accepted Answer

A deficit in your statement of income and expenditures means that you spent more than you earned. This often leads to an increase in debts as you may have had to borrow money to make up for the shortfall.

If Your Statement of Income and Expenditures Shows a Deficit,you