ECONOMICS
BUDGET DEFICITS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Budget includes
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expected receipts
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none
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expected expenditure
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Both
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Explanation:
Detailed explanation-1: -A budget should include your income, savings, debt repayment, and general expenses.
Detailed explanation-2: -The 2 main parts of a Government budget are revenue and expenditure of the Government. The Government gets its major share of revenue from Goods and Services Tax (GST), Income tax, corporation tax, customs and excise duties.
Detailed explanation-3: -Basically, a budget is a spending plan that maps out the amount of income versus the amount of expenses during a specific period of time.
There is 1 question to complete.