Use the Graph for Questions

question 38

Multiple Choice

Use the graph for questions
-**Consider the graph where G represents government spending and T represents government revenue.A budget surplus would be associated with areas)

• A)1
• B)2
• C)3
• D)1 and 3

---

Definitions:

Financial Statement

A written record that conveys the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.

Account Category

A classification for accounting entries that helps organize financial transaction records, such as assets, liabilities, or expenses.

Income Statement

A financial statement showing a company's revenues, expenses, and profits over a specified period.

Balance Sheet

A summary that encapsulates a business's liabilities, assets, and shareholders' equity at a distinct date.