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State Whether the Following Statement is True Or False with Reason: The Government Budget is for Uncertain Time Period. - Economics

State whether the following statement is True or False with reason:    

The government budget is for uncertain time period.

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Solution

False, the government budget is for a certain time period.
Explanation:
A government budget is a financial statement showing item-wise expected government receipts and government payments during a financial year. A financial year is typically for one year.  Hence, it can be concluded that the government budget is for one year.

Concept: Meaning of Government Budget
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