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

Economics
JAMB 2020

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

  • A. balanced
  • B. surplus
  • C. deficit
  • D. inflationary
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Correct Answer: Option B
Explanation

A surplus budget is a budget whose revenues exceed the estimated expenditure in a particular financial year.

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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC offline past questions - with all answers and explanations in one app - Download for free
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709