budget surplus and deficit budget

October 2, 2022

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Fabio77

MEANING OF SURPLUS AND DEFICIT BUDGET. budget surplus occurs when government spending is less than government revenue in a given period of time.. In other words, a budget is called surplus, when the total estimated revenue is more than the proposed expenditure. In this kind of budget, not all estimated revenue is proposed to be spent in that year, meaning that there will be reserve.

budget surplus and deficit budget

PERFORMANCE OBJECTIVES

Explain the concepts of budget surplus balanced budget and the component of national debt.

Explain the concept of and criteria for revenue allocation (including resource control) in Nigeria and associated problems

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definition of budget surplus

Deficit Budget: A budget deficit occurs when the government spending exceeds government revenue in a given period of time, usually a year.

In other words, a budget is called deficit when the government’s total proposed expenditure for a period of time is more than the total estimated revenue.

When it refers to federal government spending, a budget deficit is also known as the “national debt”. The opposite of a budget deficit is a budget surplus and when inflows are equal to outflows, the budget is said to be balanced.