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For a government that taxes and spends, there is revenue (income) and expenditures (outlays). When the expenditures exceed the revenue, the difference is a deficit, also referred to as a "shortfall". When revenue exceeds expenditures, there is money left over, and this is a surplus.
Profits
revenue expenditures are recorded in "income statement" as revenue expenditures are those expenses, benefits of which has already taken by company in full.
Revenue bills. They concern both revenue (taxes) and expenditures (appropriations).
there is a budget surplus
A deficit is the result when expenditure exceeds revenue.
Because it is important. Capital expenditure = non-deductible Revenue expenditure = deductible
=(total revenue- total expenditures)/revenue. you get a percentage.
budget deficit
Revenue bills. They concern both revenue (taxes) and expenditures (appropriations).
_____ measure how effectively a firm manages assets to generate revenue.
budget deficit