Question

What is defined as a budget surplus? Responses Spending exceeds income. Spending exceeds income. - incorrect A spending necessity. A spending necessity. - no response given A spending desire or luxury. A spending desire or luxury. - no response given Take-home pay exceeds spending.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Take-home pay exceeds spending. - correct

Answer 2

why? in simple terms

Answer 3

[AI-generated answer — Bot GPT 3.5]

In simple terms, a budget surplus occurs when you are spending less money than you are bringing in. This means that you have extra money left over after paying for all your expenses.