When expenditure exceeds total tax revenue, it is called:
A) surplus budget
B) balanced budget
C) deficit budget
D) none of these
Correct Answer:
Verified
Q10: _ is the first country to implement
Q11: In which year GST was first introduced
A)1952
B)1953
C)1954
D)1955
Q12: The movement from older level of expenditure
Q13: The diffusion theory was associated with the
Q14: The existence of economic inequalities among the
Q16: The Benefit Principle of taxation states that
Q17: The most accepted theory of taxation in
Q18: In which of the following type of
Q19: The horizontal fiscal imbalance that arises in
Q20: Tax revenue sharing between the federal and
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