Question

Which two quantities does a budget balance?

Select the best answer from the choices provided.
income and liabilities
assets and debts
income and spending
spending and debts

Answer 1

The two quantities that does a budget balance are INCOME AND SPENDING.

Income and spending is also known as revenue and expenditure.
A budget balance happens when the spending is equal to the income.
A budget surplus occurs when the income is more than the spending.
A budget deficit occurs when the spending is more than the income.