Question : What is a government budget?
Option 1: A plan for managing a household’s finances
Option 2: A plan for managing a business’ finances
Option 3: A plan for managing a country’s finances
Option 4: A plan for managing a city’s finances
Correct Answer: A plan for managing a country’s finances
Solution : The correct answer is (c) A plan for managing a country's finances
A government budget refers to a comprehensive plan that outlines the financial activities of a government over a specific period, typically one fiscal year. It details the government's expected revenue sources, such as taxes, fees, and other income, as well as its planned expenditures on various sectors and programs, including defense, healthcare, education, infrastructure, social welfare, and more.
The government budget serves as a roadmap for fiscal management, enabling policymakers to allocate resources effectively and prioritize spending based on the country's needs and goals. It plays a crucial role in shaping economic policies, addressing public needs, promoting growth, and maintaining fiscal discipline.
Option 1: A plan for managing a country's resources
Option 2: A plan for managing a company's resources
Option 3: A plan for managing an individual's resources
Option 4: A plan for managing a city's resources
Question : A government budget that includes provisions for an economic downturn is known as:
Option 1: A countercyclical budget
Option 2: A balanced budget
Option 3: A deficit budget
Option 4: A surplus budget
Question : The country's overall demand for steel represents a ______ demand.
Option 1: Industry
Option 2: Firm
Option 3: Both ‘a’ and ‘b’
Option 4: None of the above
Question : Kavya ltd. prepared budget in its Annual general meeting for the year 2016-17. What kind of plan is it?
Option 1: Single use plan
Option 2: Standing plan
Option 3: Objective plan
Question : Which one of the following is a single use plan?
Option 1: Strategy
Option 2: Rule
Option 3: Budget
Option 4: Method
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