Question

Suppose that your net income for the month is $2500, and that your total expenses are $1500. Which statement is accurate?
(1 point)
Responses

You have a surplus of $1000.
You have a surplus of $1000.

You have a surplus of $4000.
You have a surplus of $4000.

You have a deficit of $1000.
You have a deficit of $1000.

You have a deficit of $1500.

Answer 1

You have a surplus of $1,000. (Surplus = income − expenses = $2,500 − $1,500 = $1,000.)