Question

Which of these is required to balance the budget for the year?

Revenue equal to spending

Revenue greater than spending

Revenue less than spending

No national debt

Answer 1

Revenue equal to spending

A balanced budget is a circumstance in economic planning or the budgeting method where total incomes are equivalent to or higher than complete expenses. A budget can be viewed as balanced in hindsight after a full year's value of incomes and expenditures have been acquired and registered. A company's working budget for a forthcoming year can also be called balanced based on forecasts or estimations.

Answer 2

I think the correct answer from the choices listed above is the first option To balance the budget for the year, it should be that the revenues are equal to the expenditures or spending. It is a general rule in balancing that what goes in should be equal to what goes out to call it balance. Hope this answers the question.