A budget document, which deals with the revenue receipts and revenue expenditure of the government for a particular financial year, is called __________.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Revenue Budget.
- A budget that addresses the government's revenue receipts and revenue expenditures for a specific fiscal year is referred to as the "Revenue Budget."
- All of the government's financial activities about revenue, including tax receipts, grants, loans, and revenue expenditures like salaries, pensions, subsidies, and interest payments, are included in the revenue budget.
- It offers a thorough summary of the anticipated influx of funds for the government as well as the distribution of those funds among various expenses and public services.
- A government's revenue budget is a crucial part of the entire budgetary process, aiding in the planning and administration of its finances.