Question

In the context of government budget, which of the following statements is correct?

• A. Budget is a statement of expected annual receipts and expenditures of the government
• B. It is a detail of actual receipts and expenditures of the government in a financial year
• C. It offers a detailed description of achievements of the government during the five year plans
• D. It indicates BoP status of the domestic economy

Answer 1

The correct option is A

Budget is a statement of expected annual receipts and expenditures of the government

Budget mentions expected annual receipts and expenditures of the government.