If a Government's Income Tax Receipts Exceed Its Expenditures, the Government

question 73

Multiple Choice

If a government's income tax receipts exceed its expenditures, the government is running a

• A)surplus and is a net borrower of funds.
• B)surplus and is a net saver of funds.
• C)deficit and is a net borrower of funds.
• D)deficit and is a net saver of funds.

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Definitions:

Check Register

A record book or a ledger that tracks all the checks written, deposits made, and current balance of a checking account.

Deposit

A deposit is a sum of money placed into an account or given as security for a financial transaction.

Cash Balance

The amount of cash a company or an individual has available after all transactions have been accounted for.

Deposits

Sums of money placed into an account or with a financial institution for safekeeping and/or to earn interest.