Economics · Budgeting Principles
Match LIST-I with LIST-II: LIST-I (Budgeting Principle) I. Annuality Principle II. Cash Basis Principle III. Gross Budgeting Principle IV. Close Budgeting Principle LIST-II (Strict Definition) a. Estimates are based on actual expected receipts and payments, avoiding accrued transactions b. Estimates are required to be as realistic and precise as possible to prevent underutilisation or shortages c. Revenues and expenditures are presented in their entirety without deducting receipts from expenditure d. Ensures financial authority is granted by the legislature only for a limited duration
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I-c, II-a, III-d, IV-b
- 2I-d, II-b, III-a, IV-c
- 3I-d, II-a, III-c, IV-b✓
- 4I-a, II-d, III-c, IV-b
Correct answer
I-d, II-a, III-c, IV-b
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