Question
General Knowledge Question on Business Finance
Budget is the
A
Proposal of taxation
B
Annual financial statement
C
Appropriation bill
D
None of these
Answer
Annual financial statement
Explanation
Solution
The budget is primarily defined as an Annual Financial Statement. It outlines the government's expected revenue and expenditures for the upcoming fiscal year. In many countries, including India, the budget is presented annually and serves as a key tool for economic planning and financial management.
The correct answer is (B) : Annual financial statement