The following describes the status of the O'Daniel's budget.
A) It is in surplus
B) It is in deficit
C) It is balanced
To determine the status of the O'Daniel's budget, we need more information. The status of a budget is usually determined by comparing the revenues (income) and expenses (expenditures) over a specific period, typically a year.
To get the answer, you would need to gather the information on O'Daniel's revenues and expenses. This can be done by looking at the financial statements, reports, or budgets provided by O'Daniel. These documents usually outline the inflows and outflows of money, including sources of revenue and planned expenditures.
Once you have the revenue and expenditure figures, you can calculate the budget status by comparing the two. Here's how to interpret the result:
- If the revenues are higher than the expenses, O'Daniel's budget is in surplus. This means that O'Daniel's income exceeds their planned expenses, leaving them with extra funds.
- If the expenses are higher than the revenues, O'Daniel's budget is in deficit. This indicates that O'Daniel is spending more than they are earning and may need to borrow or find other sources of funds to cover the shortfall.
- If the revenues and expenses are equal, O'Daniel's budget is balanced. This means that they have planned their income and expenses to be equal, resulting in neither surplus nor deficit.
To determine the actual status of the O'Daniel's budget, you would need to gather the relevant financial information and perform the calculations.