Define Balanced, Surplus and Deficit Budgets

1.	Define Balanced, Surplus and Deficit Budgets
Answer» a) Balanced Budget:- It is one where the estimated revenue EQUALS the estimated expenditure. b) Surplus Budget:- It is one where the estimated revenue is GREATER THAN the estimated expenditures. c) Deficit Budget:- It is one where the estimated revenue is LESS THAN the estimated expenditure.

Answer»

a) Balanced Budget:- It is one where the estimated revenue EQUALS the estimated expenditure.

b) Surplus Budget:- It is one where the estimated revenue is GREATER THAN the estimated expenditures.

c) Deficit Budget:- It is one where the estimated revenue is LESS THAN the estimated expenditure.

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