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Budget

If receipts a...

Question

If receipts are equal to expenditure, budget is said to be _________.

A

balanced

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B

surplus

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C

deficit

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D

none of the above

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Solution

The correct option is C balanced
A budget is a financial plan for a definite period of time mostly for one year. It is basically of three types.viz. balanced, surplus and deficit. A budget is said to be balanced when the receipts are equal to expenditure.

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