🤓 Based on our data, we think this question is relevant for Professor Li's class at UMN.
If expenses exceed revenue during a given accounting period:
a. Assets will decrease more than liabilities.
b. Owners' equity will decrease more than assets.
c. The cash account will decrease.
d. The income statement will show a net loss.
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Based on our data, we think this problem is relevant for Professor Li's class at UMN.