Revenue exceeds expenditure
Expenditure exceeds revenue
Revenue equals expenditure
The budget is delayed
Answer is Right!
Answer is Wrong!
A budget surplus occurs when revenue exceeds expenditure. This means that the government collects more money in taxes and other revenue than it spends on goods and services, programs, and interest on the national debt. A budget surplus can be used to reduce the national debt, invest in infrastructure or other programs, or provide tax cuts.
A budget deficit occurs when expenditure exceeds revenue. This means that the government spends more money than it collects in taxes and other revenue. A budget deficit can be financed by borrowing money, which increases the national debt.
A balanced budget occurs when revenue equals expenditure. This means that the government neither borrows money nor has a
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