The excess of income over expenditures is known as Savings.
S= Y(d)-C
Where;
S= Savings
Y(d)= Disposable Income
C= Consumption Expenditures
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.
income over expenditure is profitexpenditure over income is loss
are made for normal repairs to maintain the usefulness of the asset over a number of years
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).
Macroeconomics: Planned expenditure by a government to put more money into the economy than it takes out by taxation, with the expectation that increased business activity will bring enough additional revenue to cover the shortfall. Also called deficit spending. Microeconomics: Debt financing to cover excess of expenditure over income.
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.
a credit to deferred income taxes payable
Deficit spending.
The oversight committee has been working on the next balanced budget for over three weeks.
Expenses more than income is called "Loss" Income over expenses called "Profit"
It is the excess revenue income over revenue expenditure for an insurance company.
What is excess of total liability over a total assets?
Fund balance
Fund balance
b.) an excess of tax receipts over government expenditures
Disposable income.
False