A Budget Need Not Contain Both Revenue and Expense Components

question 80

True/False

A budget need not contain both revenue and expense components.

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Definitions:

Social Inequality

A condition in society where people have unequal access to wealth, resources, and opportunities, leading to disparities in living standards and well-being.

Private Morality

The set of ethical guidelines and moral principles that individuals choose to follow in their personal lives, distinct from public or legal standards.

Federal Government

The national government of a federal country, where power is divided between a central authority and constituent units, responsible for areas like defense, foreign policy, and regulating interstate commerce.

Economic Independence

The condition of having sufficient personal wealth to live, without needing to work for basic necessities, allowing for financial self-sufficiency.