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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 is revenue minus expenditures?
Profits
Where is the revenue expenditure listed on the financial statement?
revenue expenditures are recorded in "income statement" as revenue expenditures are those expenses, benefits of which has already taken by company in full.
What are money (revenue) bills?
Revenue bills. They concern both revenue (taxes) and expenditures (appropriations).
When revenue exceeds expenditures?
there is a budget surplus
What results when expenditures exceed revenue?
A deficit is the result when expenditure exceeds revenue.
Why it is important to distinguish capital expenditures from revenue expenditures for tax purpose?
Because it is important. Capital expenditure = non-deductible Revenue expenditure = deductible
What is the formula for Net Operating Margin in Excel?
=(total revenue- total expenditures)/revenue. you get a percentage.
Which describes a budget in which expenditures exceed revenue?
budget deficit
What are bills concerning money called?
Revenue bills. They concern both revenue (taxes) and expenditures (appropriations).
Which term describes a budget in which expenditures exceed revenue?
budget deficit
What best describes a budget with equal expenditures and revenue?
balanced budget
