When the total expenditure is less than total receipts, it is called ______________.

Correct option is A

The correct answer is (a) Surplus Budget.

• A Surplus Budget occurs when the total receipts (income/revenue) exceed the total expenditure.
• This means the government has extra funds after meeting all its expenses.
• A surplus budget is often used to reduce inflation or public debt.

Balanced Budget:
· A balanced budget is when total receipts are equal to total expenditure. There is no surplus or deficit.
Deficit Budget:
· A deficit budget occurs when total expenditure exceeds total receipts, resulting in a shortfall. This is common when governments spend more to boost economic growth.
Estimate Budget:
· There is no concept of an "estimate budget" in financial terminology. It might refer to the projection of expected income and expenditure, but it is not a budget type.