Get the answer of: What is Budget? A budget is an estimate of income and expenditure for a future period as opposed to an account which records financial transaction. Budget is an essential element in the planning and control of the financial affairs of a nation and is made necessarily (and essentially) because income and expenditure do not occur simultaneously [...]
Quick Notes on Budget: Need and Types! Need for Budget: The word 'budget' is derived from the French word 'bougett' or 'buje' which means a “small leather bag" that contains financial proposals. Modern business makes annual financial proposals. Usually, monthly budget proposals are made by individuals. Government develops national annual budget. State Governments also make annual budgets. To facilitate annual [...]
Read this article to learn about the top thirty-five frequently asked questions on Government Budget and Economy. Q.1. What is a Government Budget. OR Define government budget. Ans. A statement that shows estimated government receipts and estimated government expenditure under various heads during a given year. OR A government budget shows financial accounts of the previous year along with revised [...]