CA Foundation Exam > CA Foundation Questions > In the context of government budget, which of...
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In the context of government budget, which of the following statements is correct?
- a)Budget is a statement of expected annual receipts and expenditures of the government.
- b)It is a detailed account of actual receipts and expenditures of the government in a financial year.
- c)It offers a detailed description of achievements of the government during the five year plans.
- d)It indicates the balance of payments status of the domestic economy.
Correct answer is option 'A'. Can you explain this answer?
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In the context of government budget, which of the following statements...
Budget is a statement of expected annual receipts and expenditures of the government.
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In the context of government budget, which of the following statements...
Explanation:
Budget is a statement of expected annual receipts and expenditures of the government. This is a correct statement in the context of government budget.
- Budget Definition:
A budget is a financial plan that outlines the expected revenues and expenditures of a government for a specific period, usually a fiscal year.
- Expected Annual Receipts and Expenditures:
The budget provides an estimate of the government's anticipated sources of revenue, such as taxes, fees, and other income, as well as its planned expenditures on various programs, services, and projects.
- Forecasting Tool:
The budget serves as a forecasting tool to help the government allocate resources efficiently, prioritize spending, and ensure that expenditures do not exceed revenues.
- Policy Document:
In addition to financial planning, the budget also serves as a policy document that reflects the government's priorities, goals, and values through its allocation of funds to different sectors and programs.
- Monitoring and Accountability:
By comparing actual financial performance to the budgeted figures, the government can monitor its fiscal health, assess the effectiveness of its policies, and be held accountable to the public for its financial decisions.
In conclusion, the government budget is a crucial tool for financial planning, policy-making, and accountability, and it provides a framework for managing the public finances of a country.
Budget is a statement of expected annual receipts and expenditures of the government. This is a correct statement in the context of government budget.
- Budget Definition:
A budget is a financial plan that outlines the expected revenues and expenditures of a government for a specific period, usually a fiscal year.
- Expected Annual Receipts and Expenditures:
The budget provides an estimate of the government's anticipated sources of revenue, such as taxes, fees, and other income, as well as its planned expenditures on various programs, services, and projects.
- Forecasting Tool:
The budget serves as a forecasting tool to help the government allocate resources efficiently, prioritize spending, and ensure that expenditures do not exceed revenues.
- Policy Document:
In addition to financial planning, the budget also serves as a policy document that reflects the government's priorities, goals, and values through its allocation of funds to different sectors and programs.
- Monitoring and Accountability:
By comparing actual financial performance to the budgeted figures, the government can monitor its fiscal health, assess the effectiveness of its policies, and be held accountable to the public for its financial decisions.
In conclusion, the government budget is a crucial tool for financial planning, policy-making, and accountability, and it provides a framework for managing the public finances of a country.
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In the context of government budget, which of the following statements is correct?a)Budget is a statement of expected annual receipts and expenditures of the government.b)It is a detailed account of actual receipts and expenditures of the government in a financial year.c)It offers a detailed description of achievements of the government during the five year plans.d)It indicates the balance of payments status of the domestic economy.Correct answer is option 'A'. Can you explain this answer?
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In the context of government budget, which of the following statements is correct?a)Budget is a statement of expected annual receipts and expenditures of the government.b)It is a detailed account of actual receipts and expenditures of the government in a financial year.c)It offers a detailed description of achievements of the government during the five year plans.d)It indicates the balance of payments status of the domestic economy.Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In the context of government budget, which of the following statements is correct?a)Budget is a statement of expected annual receipts and expenditures of the government.b)It is a detailed account of actual receipts and expenditures of the government in a financial year.c)It offers a detailed description of achievements of the government during the five year plans.d)It indicates the balance of payments status of the domestic economy.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In the context of government budget, which of the following statements is correct?a)Budget is a statement of expected annual receipts and expenditures of the government.b)It is a detailed account of actual receipts and expenditures of the government in a financial year.c)It offers a detailed description of achievements of the government during the five year plans.d)It indicates the balance of payments status of the domestic economy.Correct answer is option 'A'. Can you explain this answer?.
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