A Balanced Budget Occurs When ______

question 192

Multiple Choice

A balanced budget occurs when ______.

• A) all of the national debt is repaid
• B) taxes, fees, and borrowings are equal to government spending for the year
• C) taxes and fees equal all government spending except for capital expenditures
• D) all federal taxes and fees equal all federal government spending

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Definitions:

Bank Service Charges

Fees charged by a bank for the maintenance of an account and for providing various banking services.

NSF Checks

Non-sufficient funds checks are ones that cannot be processed because the drawer's account does not have enough money to cover the amount.

Journal Entry

A record in accounting that represents a transaction and its effects on accounts, following the double-entry system.

Days' Cash on Hand

A financial metric indicating the number of days a company can continue to operate using only its available cash, without additional income.