Q The government budget is ana)Five yearly statementb)Half yearly statementc)Weekly statementd)Annual statementCorrect answer is option 'D'. Can you explain this answer?

Question

Answer

A government budget is a document prepared by the government and/or other political entity presenting its anticipated tax revenues (Inheritance tax, income tax, corporation tax, import taxes) and proposed spending / expenditure (Health care, Education, Defence, Roads, State Benefit) for the coming financial year.

Answer

Government Budget is an annual statement showing all the Receipts and Expenditure during a fiscal year of the country.

Answer

D because all the activities  related to finance are submitted  at last of the financial  year .

Answer

The correct answer is annual statement. The word annual means yearly. It means the government budget is presented yearly. Every year the finance minister presents the government budget on 1st Feb to take approval from the government. Hope it helps !

Answer

The correct answer is option 'D' - Annual statement.

The government budget is a financial statement that outlines the government's estimated revenues and proposed expenditures for a specific period, typically one year. It is an important tool used by the government to manage its finances and allocate resources to various sectors and programs.

The government budget serves several purposes, including:

1. Planning and Policy Formulation:
- The budget helps the government plan its financial activities and set priorities for the allocation of resources.
- It enables policymakers to design and implement policies that promote economic growth, social welfare, and development.

2. Revenue Estimation:
- The budget provides an estimate of the government's expected revenues from various sources such as taxes, fees, and grants.
- It helps policymakers assess the adequacy of revenue sources and make necessary adjustments to meet expenditure requirements.

3. Expenditure Allocation:
- The budget allocates funds to different sectors and programs based on their importance and priority.
- It helps ensure that resources are distributed efficiently and effectively to meet the government's objectives and public needs.

4. Fiscal Discipline:
- The budget promotes fiscal discipline by setting limits on government spending and borrowing.
- It helps control inflation, manage public debt, and maintain macroeconomic stability.

5. Accountability and Transparency:
- The budget provides a clear and transparent account of the government's financial activities.
- It allows citizens, civil society organizations, and other stakeholders to hold the government accountable for its fiscal decisions and expenditures.

Given the importance of the government budget in managing public finances, it is prepared and presented on an annual basis. This allows for a comprehensive assessment of the government's financial position, revenue projections, and proposed expenditures for the upcoming fiscal year.

While there may be other periodic financial statements issued by the government, such as quarterly or monthly financial reports, the annual budget statement is the primary document that outlines the government's financial plans and priorities for the entire year.

Overall, the annual government budget statement plays a crucial role in guiding the government's financial decision-making, ensuring fiscal discipline, and promoting transparency and accountability in public finances.

Answer

Annually because it's creat on every new financial year

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