What are the types of budget?

Asked by Topperlearning User | 19th Apr, 2016, 09:24: AM

Expert Answer:

Budgets are classified into three types. They are

i. Balanced budget is the budget where the estimated revenues are equal to the estimated expenditures.

   Receipts = Expenditure

ii. Surplus budget is the budget in which estimated revenues are more than estimated expenditures.

    Receipts > Expenditure

iii. Deficit budget is the budget in which estimated revenue is less than estimated expenditures.

    Receipts < Expenditure 

Answered by  | 19th Apr, 2016, 11:24: AM