Which of the following are the components of a budget?
A
Capital Budget
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B
Revenue Budget
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C
Both (a) and (b)
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D
Neither (a) nor (b)
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Solution
The correct option is C Both (a) and (b) Components of the budget refers to the structure of the budget. The budget has two broad components: Revenue budget and Capital budget. Revenue budget includes revenue expenditure and revenue receipts. Capital budget includes capital expenditure and capital receipts.