The correct answer is Reserved. A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis. Budget is a microeconomic concept that shows the trade-off made when one good is exchanged for another. Budget can also aid in setting goals, measuring outcomes, and planning for contingencies. A budget is said to be a surplus budget if the expected income is more than the estimated expenditure in a financial year. Important Points Types of budgets:Balanced Budget:A budget is said to be a balanced budget if the estimated government expenditure is equal to expected government receipts in a particular financial year. Surplus Budget:?If the expected government revenues exceed the estimated government expenditure in a particular financial year. Deficit Budget:If the estimated government expenditure exceeds the expected government revenue in a particular financial year. Additional Information