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Budget (JC)

Keywords and concepts (JC)

TermDefinition
Budget It is a plan of our expected income and expected expenditure in a given year
National Budget It is a document that gives a detailed breakdown of government income and expenditure for the next year
Current Income and Expenditure It refers to day to day or regular income or expenditure
Capital Income and Expenditure It refers to long-term or once off income or expenditure
A balanced budget It is where planned income is equal to planned expenditure.
A surplus income It is where the planned income is greater than planned expenditure.
A deficit budget It is where the planned income is less than planned expenditure.
Created by: msgriffin
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