Question

What is an annual budget that includes income and expenses for ongoing operations?

Answer 1

Answer:

An annual budget that includes income and expenses for ongoing operations is the Operating Budget of the government.

Explanation:

• In order to carry out its own expenses, the government needs to devise well in advance the provisions that are needed to be done for the said expenses.
• In order to determine the means through which the revenue for these expenses is to be fetched, the government prepares an operating budget and presents it in front of the houses.
• This budget is different than the national budget of the country.