Answer :
Britain's national debt increased by twofold to twice its annual revenue as a result of the seven-year war. It is false.
What is a debt?
An obligation to pay money or another agreed-upon value to a third party, the creditor, is referred to as a debt. Debt differs from an immediate purchase in that it involves deferred payments or a series of payments. A sovereign state or nation, a local government, a business, or an individual could be liable for the debt. Contractual provisions governing the sum and schedule of principle and interest payments typically apply to commercial debt. Debt comes in many different forms, including loans, bonds, notes, and mortgages. Debt is a form of financial transaction that is different from equity in financial accounting. The phrase can also be interpreted metaphorically to refer to duties of a moral nature and other interactions without a monetary exchange.
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