Question 29
Public FinanceWhich of the following best describes the budget? A
- A.plan of government's needs and expenditure for a year
- B.detailed estimate of government financial operation for a year
- C.satisfactory balance between income and expenditure for one year
- D.plan for importation of essential goods and services for one year
- 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.