2. Write to see about each of the following
b) Budget c) Government
Answers
Answer:
1) Budget: an estimate of income and expenditure for a set period of time.
2) Government: it is authorized by some people of the country to take decisions for the people of India
Explanation:
c) Government:
A government is a group of people that have the power to rule in a territory, according to the administrative law. This territory may be a country, a state or province within a country, or a region. The government may be various types of : Democratic, Parliamentary, Presidential, Federal or Unitary.
Governments make laws, rules, and regulations, collect taxes and print money.
Governments have systems of justice that list the acts or activities that are against the law and describe the punishments for breaking the law.
Governments have a police force to make sure people follow the laws.
b) Budget:
budget is a financial plan for a defined period, often one year. It may also include planned sales volumes and revenues, resource quantities, costs and expenses, assets, liabilities, and cash flows. Companies, governments, families, and other organizations use it to express strategic plans of activities or events in measurable terms.[1]
A budget is the sum of finances allocated for a particular purpose and the summary of intended expenditures along with proposals for how to meet them. It may include a budget surplus, providing money for use at a future time, or a deficit in which expenses exceed income.
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