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The total of all accumulated and unpaid deficits a situation in which revenue exceeds outlays a situation in which outlays exceed revenue the fee that borrowers pay to debt holders.

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Answer:

  1. The total of all accumulated and unpaid deficits is called debt.
  2. a situation in which revenue exceeds outlays is called surplus
  3. a situation in which outlays exceed revenue is called deficit
  4. the fee that borrowers pay to debt holders is called interest

Explanation:

Debt, Surplus, Deficit, and Interest are all finance and budgeting terminologies.

                                                           

Periodically, and over a specific period of time, governments, organizations (for-profit and not-for-profit), formal and informal groups, create an estimate of expenses related to their operation as well as an estimate and source(s) of revenue to be generated in order to service such expenses. This activity is called Budgeting.

       

After a budget is created, it may be visited for review periodically to check for variances. A variance is simply the amount by which the estimated figures differ from the actual figures.

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