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What is meant by surplus and deficit?
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.
What do you mean by income over expenditure or expenditure over income?
income over expenditure is profitexpenditure over income is loss
Expenditures capitalized as long-lived assets generally include those expenditures that?
are made for normal repairs to maintain the usefulness of the asset over a number of years
What is The actual purchasing power of income called?
The actual purchasing power of income is called "real income." Real income adjusts nominal income for inflation, reflecting the true value of money in terms of the quantity of goods and services it can buy. This measure provides a clearer picture of an individual's or household's economic well-being over time.
Distinguish between deficit budget and surplus budget?
The main difference between the fiscal and budget deficit is of time period in consideration.Fiscal Deficit is the Govt. Deficit (Government Expenditures - Government Earnings (excluding borrowings)) for a fiscal year let say 2008-09 while...Budget Deficit is the Govt. Deficit in fiscal year 2008-09 (i.e. fiscal deficit for year 2008-09) plus the past Debt over the Government (i.e. the net sum of all past Fiscal deficit/surplus before fiscal year 2008-09).
What is meant by surplus and deficit?
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.
An excess of income taxes expense over income taxes payable for a period is associated with?
a credit to deferred income taxes payable
What is phrase that means the excess of government spending over income?
Deficit spending.
What is a balanced budget?
The oversight committee has been working on the next balanced budget for over three weeks.
What is the difference amount of expense over income called when income exceeds expense?
Expenses more than income is called "Loss" Income over expenses called "Profit"
In finance what is an excess of liabilities over assets called?
What is excess of total liability over a total assets?
What is life assurance fund?
It is the excess revenue income over revenue expenditure for an insurance company.
What is excess of assets over liabilities called?
Fund balance
What is money left over called?
Disposable income.
What is the excess of assets over liabilities called?
Fund balance
Assume the economy is at full employment and that investment spending declines dramatically Under these conditions government fiscal policy should be directed toward?
b.) an excess of tax receipts over government expenditures
the excess of revenue over the expenses incurred in earning the revenue is called capital?
False
