Question

The budget is a monthly statement. (State whether the statement is TRUE or FALSE)

Answer 1

the statement is false. because sometimes budget is yearly, sometimes 5 years. so, this statement is false

Answer 2

False, the budget is a monthly statement.

Explanation:

• The budget is a future estimation of all the revenues and expenditures over a particular period of time.
• It is used to allocate scarce resources in the best designed economic use. The budget is used as the tool of decision making by the government.
• The government plans its expenditure, making a clear statement on the quantity of money it is going to spend on each facility.
• This declaration is called the 'Government Budget' and is hand over in the Parliament and Legislature every year in the month of February / March.

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