Question : When expenditure exceeds revenue, the budget is said to be in_____________.
Option 1: deficit
Option 2: surplus
Option 3: reserve
Option 4: debt
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Answer (1)
15th Jan, 2024
Correct Answer: deficit
Solution : The correct option is the deficit .
A budget is in deficit when its expenditures surpass its revenue, leading to a financial imbalance. This shortfall necessitates borrowing or using reserves to cover the gap.
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