Question

The statement of estimated income and expenditure of the Government for a year is ______.

• A. public finance
• B. public expenditure
• C. planned expenditure
• D. budget

Answer 1

Answer: (D)

budget

A budget is an estimation of the revenue and expenses over a specified future period of time and is compiled and re-evaluated on a periodic basis. A surplus budget means profits are anticipated, while a balanced budget means that revenues are expected to equal expenses. A deficit budget means expenses will exceed revenues.