Budgets would be considered balanced. It would threaten significant economic harm as explained below. The budget that is often considered to be the most important financial budget is the. The balanced scorecard perspective that is the most traditional view of a company is the.
Thus neither a budget deficit nor a budget surplus exists the accounts balance. State balanced budget provisions. A balanced budget is a situation in financial planning or the budgeting process where total revenues are equal to or greater than total expenses.
More generally it is a budget that has no budget deficit but could possibly have a budget surplus. Pros and cons positions on whether the constitution should be amended to require a balanced budget reflect opposing views about whether such an amendment would be an appropriate solution to the problem of persistent federal deficits and growing federal debt. So you spend within the maximum.
Keeping a budget balanced in times of fiscal stress however can be an overwhelming challenge for policymakers. A budget can be considered balanced in hindsight after a full years worth of revenues and expenses have been incurred and recorded. Start studying accounting exam.
Home accounting dictionary what is a balanced budget. A balanced budget typically founded in governmental budgeting is a financial plan that stipulates expenditures should equal revenues and not create a deficit for the entity. Despite claims from some state lawmakers that the fiscal year 2019 budget is balanced official reports to bond buyers admit a deficit of more than 1 billion.
Learn vocabulary terms and more with flashcards games and other study tools. Constitution would be an unusual and economically dangerous way to address the nations long term fiscal problems. It also would raise a host of problems for the operation of social security and other vital federal programs.