The Difference Between Net Public Debt and Gross Public Debt

question 50

Multiple Choice

The difference between net public debt and gross public debt is

• A) all government interagency borrowing.
• B) the interest paid annually on the public debt.
• C) the amount owed to individuals and firms outside the United States.
• D) the current year's budget deficit from the amount of public debt at the start of the year.

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Definitions:

Petty Cash Voucher

A document used to record and manage small, immediate cash expenses.

Cash Short

A situation where the actual cash on hand is less than the expected amount, usually identified through the reconciliation process.

Cash Over

A situation where the physical cash on hand exceeds the expected amount based on accounting records.

Cash Short

A situation that occurs when the actual cash received is less than the amount expected or recorded, often reflecting errors or theft.