Laskowski023id
Answered


Which of the following statements are true regarding 'debt' and 'deficit'?
Select all that apply.
A. There is no difference between debt and deficit.
B. A deficit can be accumulated over several years.
C. A deficit occurs when our expenses exceed our revenues.
D. Debt is the money that one owes.
E. None of the above statements is true.

Sagot :

Parrainid

The true statements are:

  • C. A deficit occurs when our expenses exceed our revenues.
  • D. Debt is the money that one owes.

Deficit is simply the term that defines a scenario where the expenses of a country or organization are more than the revenue.

Debt on the other hand, is what happens when money is borrowed from others for a reason. Some examples of debt include:

  • mortgages
  • credit cards
  • student loans etc

In conclusion, deficit is what happens when our expenses exceed our revenues and debt is the money that one owes.

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