State with reasons whether you agree or disagree with the following st

1.	State with reasons whether you agree or disagree with the following statement:Revenue receipts and revenue expenses are known as revenue budget.
Answer» Yes, I agree with this statement. Revenue Budget explains how revenue is generated by the government and how it is allocated among various expenditure heads. Revenue receipts of government refers to income, which is received by government from all sources i.e., tax and non-tax revenue. These receipts do not create a liability. Revenue expenditure is the expenditure incurred for the normal running of government departments and various services. They neither create any asset nor cause reduction in any liability of the government. E.g. expenditure on defence, police, medical public health, education, transport, etc.

State with reasons whether you agree or disagree with the following statement:Revenue receipts and revenue expenses are known as revenue budget.

Answer»

Yes, I agree with this statement.

Revenue Budget explains how revenue is generated by the government and how it is allocated among various expenditure heads.

Revenue receipts of government refers to income, which is received by government from all sources i.e., tax and non-tax revenue. These receipts do not create a liability. Revenue expenditure is the expenditure incurred for the normal running of government departments and various services.

They neither create any asset nor cause reduction in any liability of the government. E.g. expenditure on defence, police, medical public health, education, transport, etc.

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