Question

Difference between Balanced budget, surplus budget and deficit budget.​

Answer 1

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i.) Balanced Budget : government budget is said to be a balanced budget if estimated government receipts equal to the estimated government expenditure.

ii.) Surplus Budget : if estimated government receipts are more than the estimated government expenditure, then the budget is termed as surplus budget.

iii.) Deficit Budget : if estimated government receipts are less than the estimated government expenditure, then the budget is termed as deficit budget.

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Answer 2

Explanation:

Balanced Budget

♢ It is a government budget

♢ In this revenues are equal to expenditure

Deficit budget

♢ A budget in which a financial statement presenting the government proposed revenues and spending for a financial year .

Surplus Budget

♢ When income is more than expenses during a specific period of time .