Question on: SS3 Accounting - Terminologies Used In Public Sector Account

What is a budget in public sector accounting?

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A

A legal authority granted by a legislative body to spend money

B

A separate accounting entity that contains money or other resources allocated for a specific purpose

 

C

The money earned by a government or public organization from its operations

D

A financial plan that outlines the expected revenue and expenditure for a specific period

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Correct Option: D

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