Net loss occurs when

A. Expenses are greater than income

B. Expenses are less than income

C. Expenses = Income

D. Liabilities are greater than income

Answer: Option A

Solution(By Examveda Team)

Net loss occurs when Expenses are greater than income. A net loss, sometimes referred to as a net operating loss (NOL), occurs when expenses exceed the income or total revenue produced for a given period of time.

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