Choose the correct one from the following. 1. Revenue deficit = Revenue expenditure - Revenue receipts 2. Revenue deficit = Revenue receipts - Revenue expenditure 3. Revenue deficit = Revenue receipts - Total expenditure 4. Revenue deficit = Revenue expenditure - Total receipts

• A. 1 only    
• B.        1 and 2
• C. 3 only              
• D.        1, 2, 3 and 4