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Budget Where Total Revenue Equals to Total Expenditure is Called ______.(A) Balanced Budget(B) Surplus Budget (C) Deficit Budget(D) Annual Budget - Economics

Budget where total revenue equals to total expenditure is called _____________.
(a) balanced budget
(b) surplus budget
(c) deficit budget
(d) annual budget
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Solution

Budget where total revenue equals to total expenditure is called balanced budget.
Explanation:
A balanced budget is the one where total revenue equals to total expenditure. When total revenue is more than total expenditure, there is surplus budget and when total revenue is less than total expenditure, there is deficit budget.

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