Question

The components of the budget are _______________ and __________________ budget.

• A. revenue and capital
• B. surplus and balanced
• C. tax and non tax
• D. none of the above

Answer 1

The correct option is A revenue and capital

Budget is a statement of the estimates of the government receipts and government expenditure during the period of the financial year. There are two main component of a budget:

1. Receipts - It refers to the estimated money receipts of the government from all sources during the fiscal year.

2. Expenditure- It refers to the estimated expenditure of the government related to its developmental and non developmental programs during the fiscal year.