Question

Suppose that your net income for the month is 1500 and that your total expenses are 2500 which statement is accurate?

Answer 1

C. you have a deficit of 1000

Explanation:

We say that we have a surplus when the net income is more than the total expenses, while we say that we have a deficit when the net income is less than the total expenses.

In this case, the net income is 1500, which is less than the total expenses (2500): so, we have a deficit. In order to calculate the deficit, we can use the formula

deficit = total expenses - net income

Substituting the data of the problem, we find

deficit = 2500 - 1500 = 1000

Answer 2

Answer:

The correct answer is option C, you have a deficit of 1000

Step-by-step explanation:

The net monthly income of a person = 1500

The total monthly expenses = 2500

Thus, the expenditure is more than the income  

The difference between the net monthly income and the expenditure = 2500 -1500 = 1000

Here 1000 units of currency are required to meet the expenses. Thus, it can be said there is a deficiency of 1000 unit currency  

Or,  

1000 unit of currency is deficit to the net monthly income.