Federal government tax revenues if it exceeds government spending then it is classified as___________?
Correct answer: A. Budget surplus
- A. Budget surplus
- B. Budget deficit
- C. Federal reserve
- D. Federal budget
Explanation
A budget surplus occurs when government tax revenues and other receipts exceed government spending. The reverse situation, in which spending exceeds revenue, is a budget deficit.
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Business finance explains how organisations plan, obtain and use money while balancing risk, return and liquidity. Topics include financial statements, time value of money, budgeting, working capital, capital structure, sources of finance, investment appraisal and cost of capital. Capital budgeting evaluates long-term projects, whereas working capital manages day-to-day operations.
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