A budget surplus occurs when

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Prepare for the Social Studies BJC Set 2 with flashcards and multiple choice questions, each with hints and explanations. Ensure you're ready for your test with comprehensive study material!

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.

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