Question : What situation would result if government expenditure exceeds the government revenue in the current account?

Option 1: Deficit budgeting

Option 2: Zero-based budgeting

Option 3: Performance-based budgeting

Option 4: Surplus budgeting

Question : The "Zero-Based Budgeting" approach in the government budget emphasizes:

Option 1: Incremental changes in the budget from the previous year

Option 2: Starting the budgeting process from scratch every year

Option 3: Allocating resources based on historical expenditure patterns

Option 4: Giving priority to capital expenditure over revenue expenditure

Question : The government's borrowings from the public are known as ____________.

Option 1: Revenue receipts  

Option 2: Capital receipts  

Option 3: Revenue expenditure

Option 4: Capital expenditure

Question : The process of preparing a budget that covers multiple years is known as:

Option 1: Long-term budgeting

Option 2: Multi-year budgeting

Option 3: Biennial budgeting

Option 4: None of the above

Question : What is a balanced budget?

Option 1: When government spending is equal to government revenue

Option 2: When government spending is greater than government revenue

Option 3: When government spending is less than government revenue

Option 4: When government spending is zero