Practicing Success
Which of the following is TRUE in regards to the government budget? |
It is a document relating to the expected revenue and anticipated expenditure of the government for a particular financial year. There are two accounts in government budget- transactions that relate to the current financial year only are included in the revenue account also called revenue budget and those that concern the assets and liabilities of the government into the capital account also called capital budget. Both are true None of these |
Both are true |
A government budget is an annual financial statement showing item wise estimates of the expected revenue and anticipated expenditure during a fiscal year. |