Net income will result during a time period when

A. assets exceed liabilities.
B. assets exceed revenues.
C. expenses exceed revenues.
D. revenues exceed expenses.

Ans: D. revenues exceed expenses.

Business

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Which of the following statements about the Homeowners 8 policy is (are) true?

I. Losses to the dwelling are settled on a replacement cost basis if the dwelling is insured for its full market value. II. It is designed primarily for expensive, newer, dwellings. A) I only B) II only C) both I and II D) neither I nor II

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