Consider the following statements and select the correct code :
Most of the governments run unbalanced budgets.
In a balanced budget there could be budget surplus but no budget deficit.
Code :
Options:
A . Only 2
B . Both 1 and 2
C . Only 1
D . Neither 1 nor 2
Answer: Option C Answer: (c)When the total expenditures of a government is equal to the taxes and other receipts it is a balanced budget. All budgets with either deficits or surpluses are unbalanced.
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