The term that is defined as determining whether current-year revenues are sufficient to pay for the services provided that year and whether future taxpayers will be required to assume burdens for services previously provided is
A) Financial position.
B) Interperiod equity.
C) Financial condition.
D) Economic condition.

Question

Quizplus · Accepted Answer

Interperiod equity is the term used to describe the concept of ensuring that current taxpayers are paying their fair share for current services and that future taxpayers are not unfairly burdened with costs for services provided in the past. This concept is closely related to the idea of a government's financial sustainability over the long term. Financial position refers to the government's overall financial health, while financial condition is a more specific measure of its ability to meet its obligations. Economic condition refers to the broader economic environment in which the government operates, and is not specifically related to its own financial situation.

The Term That Is Defined as Determining Whether Current-Year Revenues