ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A balanced budget occurs when revenues are equal to or greater than total expenses. A budget can be considered balanced after a full year of revenues and expenses have been incurred and recorded. Proponents of a balanced budget argue that budget deficits burden future generations with debt.

Detailed explanation-2: -A balanced budget is a budget (i.e., a financial plan) in which revenues are equal to expenditures, such that there is no budget deficit or surplus.

Detailed explanation-3: -A balanced budget is a budget in which revenues are equal to expenditures. Thus, neither a budget deficit nor a budget surplus exists.

Detailed explanation-4: -A balanced budget is an essential part of being financially secure because it helps you stay out of debt and reach your savings goals. If you spend more than you earn, you have a budget deficit.

Detailed explanation-5: -Balanced Budget – Loosely, a budget with a surplus rather than a deficit. In governmental accounting terms, a budget in which anticipated or actual total revenues equal anticipated or actual total expenditures. Conversely, an unbalanced budget is one in which expenditures exceed revenues, or vice versa.