Q915
Federal government tax revenues if it exceeds government spending then it is classified as
A.
budget surplus
AnswerB.
budget deficit
C.
Federal Reserve
D.
federal budget
Answer: Option A
Solution
Answer: Option A
Solution:
Federal government tax revenues if it exceeds government spending then it is classified as budget surplus. A budget surplus is a period when income or receipts exceed outlays or expenditures. A budget surplus often refers to the financial states of governments; individuals prefer to use the term 'savings' instead of the term 'budget surplus.'