In 2018, the country X received: collected taxes in the amount of 35 million, customs fees amounted to 12 million, non-tax revenues to the budget amounted to 20 million. In the same year, the State purchased the public goods and services in the amount of 38.4 million, public transfers was 14.7 million, the interest on the national debt was payed in quantity of 17.6 million. Determine the state of the budget (in deficit, in balance, in surplus
In 2018, the country X received: collected taxes in the amount of 35 million, customs fees amounted to 12 million, non-tax revenues to the budget amounted to 20 million. In the same year, the State purchased the public goods and services in the amount of 38.4 million, public transfers was 14.7 million, the interest on the national debt was payed in quantity of 17.6 million. Determine the state of the budget (in deficit, in balance, in surplus
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2018, the country X received:
- collected taxes in the amount of 35 million,
- customs fees amounted to 12 million,
- non-tax revenues to the budget amounted to 20 million.
In the same year, the State purchased the public goods and services in the amount of 38.4 million, public transfers was 14.7 million, the interest on the national debt was payed in quantity of 17.6 million.
Determine the state of the budget (in deficit, in balance, in surplus).
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