To Evaluate the Size of the Federal Budget Deficit or Surplus

question 212

Multiple Choice

To evaluate the size of the federal budget deficit or surplus over time,it would be best to look at the

• A)absolute size of the budget deficit or surplus.
• B)budget deficit or surplus as a percentage of GDP.
• C)budget deficit or surplus as a percentage of tax revenues.
• D)budget deficit or surplus as a percentage of government spending.

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Definitions:

Intra-entity Transfer

Transactions involving assets, services, or funds between units or divisions within the same legal entity.

Consolidated Income Statement

A financial statement that presents the overall income of a corporation and its subsidiaries as a single entity.

Deferred

In finance, this term refers to transactions or events that are postponed to a future date.

Consolidated Worksheet

A tool used in the preparation of consolidated financial statements, summarizing the financial positions and operations of a parent company and its subsidiaries.