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What is the purpose of "Votes on Account" in budgeting?
  • a)
    To cover unforeseen expenditures
  • b)
    To finance upcoming development projects
  • c)
    To provide resources for a new fiscal year
  • d)
    To allow deficit spending for emergencies
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
What is the purpose of "Votes on Account" in budgeting?a)To ...
"Votes on Account" provide advance grants for estimated expenditure from April 1 to a part of the financial year. This helps in financing government operations while the regular budget passage process is underway.
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What is the purpose of "Votes on Account" in budgeting?a)To cover unforeseen expendituresb)To finance upcoming development projectsc)To provide resources for a new fiscal yeard)To allow deficit spending for emergenciesCorrect answer is option 'C'. Can you explain this answer?
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