1. When the citys budget is approved, the total amount appropriated is greater than the estimated revenues. What are the financial implications of that budget?

Select one:

a. The city anticipates a budget surplus for the year.

b. The city anticipates a budget deficit for the year.

c. The city anticipates a need to increase its tax rates.

d. The city anticipates a need to revise the budget.

2. Select one of the multiple choice answers you believe to be incorrect. Write a sentence or two explaining why the answer you selected is incorrect. Your explanation needs to include more than 'because the one selected is correct.'