Question 31
Public FinanceA state budget is an outline of planned
- A.expenditures and revenues expected within a financial year
- B.expenditures of ministries and parastatals within a given period
- C.recurrent and capital expenditures within a year
- D.sources of revenue derivation for a financial year
- E.use of different kinds of taxation in a given year.
Show the answer and explanation
Answer: A (expenditures and revenues expected within a financial year)
Explanation
A budget sets out both the planned spending and the expected revenue of government for one financial year.