Question : Match List-I with List-II
|
List-I (Elements) |
List-II (Features) |
|
|
(A) |
Annual Financial Statement |
(I) Create liabilities or reduce financial assets |
|
(B) |
Capital Receipts |
(II) Trade surplus |
|
(C) |
Capital Payment |
(III) (Main budget document |
|
(D) |
Export > Import |
(IV) Yreate financial assets or reduce liabilities |
Option 1: (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
Option 2: (A) - (III), (B) - (I), (C) - (IV), (D) - (II)
Option 3: (A) - (I), (B) - (II), (C) - (IV), (D) - (III)
Option 4: (A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Correct Answer: (A) - (III), (B) - (I), (C) - (IV), (D) - (II)
Solution : The main budget document, known as the Budget Statement, is the Annual Financial Statement. Capital receipts are those that either increase the government's liabilities or decrease the value of its assets. All government expenditures that either increase the government's assets or reduce its obligation are considered capital expenditures. When exports are more than imports, it is termed as trade surplus. (A)-(III), (B)-(I), (C)-(IV), (D)-(II)
Related Questions
Trending Articles/News
