Question : An annual statement of the estimated receipts and expenditures of the government over the fiscal year is known as_____
Option 1: Income sheet
Option 2: Plan
Option 3: Account
Option 4: Budget
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Correct Answer: Budget
Solution : The correct option is budget.
An annual statement of the estimated receipts and expenditures of the government over the fiscal year is known as the budget. This document contains the government's financial plan, which includes information on how money will be distributed for different projects, services, and programs, as well as how money will be raised to pay for costs.
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