Identify the features pertaining to annual budget.

Statement of expected income of the government

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Statement of expected expenses of the government

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Starts on 1 April and ends on 31 March

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Starts on 1 January and ends on 31 December

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Solution

The correct option is C Starts on 1 April and ends on 31 March
An annual budget is a financial statement showing the expected income and expenditure of the government. This is a statement for a financial year that starts on 1 April and ends on 31 March of the next year. Taxes are imposed based on the fixed annual budget.

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