A budget surplus occurs when

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $9.99Unlock all

Study for the Social Studies BJC Test. Understand concepts with multiple choice questions and detailed explanations. Prepare thoroughly for your exam!

Multiple Choice

A budget surplus occurs when

Explanation:
A budget surplus happens when more money comes in (revenue) than goes out (expenditures) during a given period, leaving extra funds. This extra money can be saved, invested, or used to pay down debt. If revenue equals expenditures, the budget is balanced. If expenditures exceed revenue, there’s a deficit. Revenue being uncertain doesn’t create a surplus because surplus depends on actual, not just potential, income.

A budget surplus happens when more money comes in (revenue) than goes out (expenditures) during a given period, leaving extra funds. This extra money can be saved, invested, or used to pay down debt. If revenue equals expenditures, the budget is balanced. If expenditures exceed revenue, there’s a deficit. Revenue being uncertain doesn’t create a surplus because surplus depends on actual, not just potential, income.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy