Question 1A CFAI 2013

Would we deduct this year’s expenses shortfall from the asset base if the case had said “Voorts have not taken into account this years income from portfolio” ?

As a financial Planner we set aside this year’s expenses needs whether immediate or later from the portfolio base to calculate the Return requirement…I guess it can be argued that that is why the customers have Cash reserve in their portfolio …?

Maybe I am thinking it too much !