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Sagot :
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.
Find out more at https://brainly.com/question/16551961.
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