Define the three terms and give examples where relevant. 1. Deficit 2.Surplus &nb

Question

Question

Define the three terms and give examples where relevant.

1. Deficit

2.Surplus

3.Corporation

Thank you!

business finance

Answer 1

Answer #1

1. Deficit - means less expenditure than revenue; in other words negative revenue situation

2. Surplus means excess of revenue over expenditure or excess of actuals over budget; in other words positive revenue situation

3.Corporation - a firm that is legal entity and incorporated by the law.

Answer 2

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