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WAEC Financial Accounting 2014 Question 46

Question 46

Public Sector Accounting

The document prepared by a local/district government to present its annual estimates for a planning period is

  1. A.a balance sheet.
  2. B.a budget.
  3. C.an income and expenditure account.
  4. D.a cash book.
Show the answer and explanation

Answer: B (a budget.)

Explanation

Annual estimates of revenue and expenditure for a coming period make up the budget.