If a family planned to spend $370 for food during March but only spent $344, this difference would be referred to as a:
Are these your choices?
a)surplus
b)deficit
c)budget reduction
d)contribution to net worth
I'll be glad to check your answer.
The difference between the planned amount and the actual amount spent is referred to as the "deviation." In this case, the family planned to spend $370 but only spent $344. To find the difference, you subtract the actual amount spent from the planned amount:
$370 - $344 = $26
Therefore, the difference in this case is $26.