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Question
___________ is a statement which shows the expected Receipts and Expenditures of the Government in the forthcoming financial year.
___________ is a statement which shows the expected Receipts and Expenditures of the Government in the forthcoming financial year.
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Solution
The correct option is A Budget
A budget is a financial plan for a defined period, often one year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It may include a budget surplus, providing money for use at a future time, or a deficit in which expenses exceed income.
A budget is a financial plan for a defined period, often one year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities and cash flows. It may include a budget surplus, providing money for use at a future time, or a deficit in which expenses exceed income.
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