Question on: WAEC Accounting - 2014
The document prepared by a local/district government to present its annual estimates for a planning period is
A
a balance sheet
B
a budget
C
an income and expendiure account
D
a cash bppk
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Correct Option: B
A budget is an estimation of revenue and expenses over a specified future period of time; it is compiled and re-evaluated on a periodic basis.
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