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What is a Balanced Budget?DefinitionA balanced budget is a financial term used to refer to a budget that does not have its expenses exceeding its revenues. It occurs when revenue is equals to or greater than the total expenses. A successful balanced budget can be identified by its good fiscal health, that is, maintain a level of healthy spending that keeps in step with costs.Understanding Balanced BudgetA balanced budget can only be actualized at the close of a fiscal year after all the revenues and expenses for that year have been successfully recorded. Although, this term can be applied in…
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