Which of the following is true of residual income? Selected Answer: Answers: D. Residual income is the excess of assets used in a project over liabilities incurred for the project A. Residual income is expressed in terms of percent B. Residual income is the excess of actual income over the target income (minimum required income). C. Residual income cannot be negative D. Residual income is the excess of assets used in a project over liabilities incurred for the project