| 1. Revenue deficit = Revenue expenditure - Revenue receipts |
| 2. Revenue deficit = Revenue receipts - Revenue expenditure |
| 3. Revenue deficit = Revenue receipts - Total expenditure |
| 4. Revenue deficit = Revenue expenditure - Total receipts |
A) 1 only
B) 1 and 2
C) 3 only
D) 1, 2, 3 and 4
Correct Answer: A
Solution :
Revenue deficit means the excess of current revenue expenditure over current revenue receipts. Revenue deficit indicates that the government cannot meet its current expenditure from its current revenue. Revenue deficit = Revenue expenditure - Revenue receipts
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