A budget with a projected revenue in excess of its expenditure is said to be?

Assessment: JAMB UTME - Economics - 2020 Subject: Economics

Question 1 Report

A budget with a projected revenue in excess of its expenditure is said to be?
Answer Details
A budget with a projected revenue that is greater than its expenditure is called a "surplus." This means that the amount of money coming in is more than the amount of money going out, creating an excess. This surplus can be used for saving, investment, or paying off debt. In simpler terms, a surplus budget means that you are earning more money than you are spending.
Read lesson note on Public Finance (JAMB)
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