CA CPT Dec 2017 Question Paper General Economics for online practice

Question : 34 of 50

Marks: +1, -0

Which of the following is incorrect

Sum of budget deficit minus borrowings of loans & other liabilities gives fiscaldeficit
If total receipts equals total expenditure, it is called Balanced Budget
If total receipts are greater than total expenditure, it is called Surplus Budget
Budget deficit is the difference between total receipts and total expenditure

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