GCE Economics 1990 Question 29

Question 29

Public Finance

Which of the following best describes the budget? A

  1. A.plan of government's needs and expenditure for a year
  2. B.detailed estimate of government financial operation for a year
  3. C.satisfactory balance between income and expenditure for one year
  4. D.plan for importation of essential goods and services for one year
  5. E.plan for control of government industries and corporations for one year.
Show the answer and explanation

Answer: B (detailed estimate of government financial operation for a year)

Explanation

A budget is a detailed estimate of government revenue and expenditure for one financial year.